{"id":1091122,"date":"2022-05-18T08:18:19","date_gmt":"2022-05-18T08:18:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/05\/18\/netflix-lays-off-150-employees-due-to-slow-revenue-growth-radio-tv\/"},"modified":"2022-05-18T08:18:19","modified_gmt":"2022-05-18T08:18:19","slug":"netflix-lays-off-150-employees-due-to-slow-revenue-growth-radio-tv","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/05\/18\/netflix-lays-off-150-employees-due-to-slow-revenue-growth-radio-tv\/","title":{"rendered":"Netflix Lays Off 150 Employees Due To Slow Revenue Growth | Radio\/TV"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Netflix is reportedly laying off nearly 150 employees in the coming days due to\u00a0disappointing earnings and slow revenue growth.<br \/>\u00a0<br \/>According to a Variety report, the Amazon Prime Video rival might also terminate its contract with contractual contributors.<br \/>\u00a0<br \/>The layoffs are about 2 per cent of Netflix\u2019s US workforce. \u201cAs we explained [in reporting Q1] earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly U.S.-based,\u201d a Netflix spokesperson said.<br \/>\u00a0<br \/>The statement further revealed that the decision was primarily driven by business needs rather than individual performance. Netflix reported $7.87 billion in Q1, which was short of Wall Street\u2019s estimates of $7.93 billion.<br \/>\u00a0<br \/>The report further reveals that nearly 70 part-time employees in Netflix\u2019s animation studio will have to pack up and leave. A report by The Verge stated that about 26 contractors working on Netflix\u2019s fan-focused Tudum website might see a termination.<br \/>\u00a0<br \/>\u201cA number of agency contractors have also been impacted by the news announced this morning. We are grateful for their contributions to Netflix,\u201d the company said.<br \/>\u00a0<br \/>Netflix, in its recent earnings call, revealed that it lost thousands of\u00a0subscribers, which is a first for the company in over a decade.<br \/>\u00a0<br \/>The company expects to lose an additional 2 million in the next quarter due to the ongoing war between Russia and Ukraine. Netflix has shut shop in Russia following the country\u2019s invasion of Ukraine.<\/p>\n<h3><strong\/><\/h3>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<table width=\"100%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"clear:both\">\n<tr>\n<td><span class=\"peace_red_text_1\"><\/span>: <span class=\"peace_ash_text_1\">Opinions expressed here are those of the writers and do not reflect those of .  accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.<\/span><\/td>\n<\/tr>\n<\/table>\n<p>Featured Video\n<\/p>\n<p><div class=\"youtube-embed\" data-video_id=\"wB2-NHndouE\"><iframe loading=\"lazy\" title=\"Our Fight Against Sim Card Registration Is Unending- Hon. Ras Mubarak Cautions Gov&#039;t\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/wB2-NHndouE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Netflix is reportedly laying off nearly 150 employees in the coming days due to\u00a0disappointing earnings and slow revenue growth.\u00a0According to a Variety report, the Amazon Prime Video rival might also terminate its contract with contractual contributors.\u00a0The layoffs are about 2 per cent of Netflix\u2019s US workforce. \u201cAs we explained [in reporting Q1] earnings, our slowing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1082346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[367,380,243,2665,8148,11886,2023,3903],"class_list":["post-1091122","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entertainment","tag-due","tag-growth","tag-lays","tag-netflix","tag-radiotv","tag-revenue","tag-slow"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1091122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1091122"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1091122\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1091122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1091122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1091122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}