Netflix does not raise its head: 300 people lose their jobs in a new wave of layoffs after their continuous loss of subscribers

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Last April it was revealed that Netflix was losing subscribers for the first time in more than a decade. The streaming giant’s numbers are really starting to falter, and while its CEO, Reed Hastings, said a while ago that sleep was his only competition, it seems that now it is. they will have to take a good look at the dangerous growth of other streaming platforms.

Unfortunately, this incessant drop in layoffs has been accompanied by a new wave of layoffs in the company. And it is that although last May the company got rid of about 150 workers, this time gets rid of another 300 workersmeaning 4% of its entire workforce.

Netflix is ​​not going through its best moment

Things are getting ugly for the almighty Netflix, especially after it confirmed that account sharing was going to end, in addition to the arrival of ads on the platform. For the latter, it seems that the company is already looking for advertising partners for its most economical plan, strategies that are not sitting well with its mass of subscribers.

While we continue to invest significantly in the business, we have made these adjustments so that our costs grow in line with our slower revenue growth,the firm said in a statement on Thursday. Netflix also added that it continues to hire people in other areas.

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Although Netflix continues to be the leading platform for streaming content with more than 220 million users globally, this crisis, together with the growth of rivals such as Disney + or Prime Video, and the decisions they have been making lately, can put a serious I squeeze the company.

Netflix users have also experienced a price increase in many regions. Inflation is there, and one of the remedies for users to save costs is to stop paying subscription services such as Netflix.

According to the BBC, the company expects its subscriber base to continue to decline until falling by two million during these three months until July.

Unfortunately, Netflix employees are not the only ones affected in American and European startups. And it is that after the pandemic crisis experienced, technology companies are facing reality again.

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