Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessWhy is Netflix Firing Staff?

Why is Netflix Firing Staff?

Add to Favorite
Added to Favorite

 Netflix Inc. sacked a handful of staff from Tudum, a website that promotes movies and TV episodes on the streaming service, just a week after dismal subscriber growth stunned investors.

The streaming platform started laying off employees after missing its subscription target by 200,000 people and seeing the value of its stock plummet by 50% in a month.

According to two sources familiar with the cuts who asked not to be identified, the layoffs are part of a larger restructuring of the company’s marketing department. Bozoma Saint John, Netflix’s high-profile chief marketing officer, stepped down last month.

At least 10-15 employees have tweeted that they have been sacked, while the precise number is unknown.

Tudum, which offers deep dives into  Netflix’s  content and recommendations like “15 Killer True Crime Documentaries to Stream,” isn’t going anywhere, according to Netflix.

The site, which was called after the sound you hear when a Netflix show starts, was intended to provide subscribers early access to the company’s shows that began in Brazil as a fan festival and was then expanded to include promotions and ongoing editorial.

Netflix announced last week that the invasion of Ukraine by Russia, tough competition, and rising inflation resulted in a loss of around 200,000 customers in the first quarter of 2022. The streaming giant expects to lose even more money in the current quarter, according to a surprising announcement that alarmed investors.

Netflix has already announced a crackdown on password sharing, which is thought to occur in 100 million households, in response to the troubling statistics. By the end of July, Netflix anticipates another 2 million customers to leave the service permanently.

Netflix’s stock was trading at roughly €600 per share when it engaged the Tudum team in September 2021, as some Twitter users pointed out. It fell below $200 this week.

The streaming behemoth’s future appears to be less certain than it appeared a few weeks ago.

 

Subscribe to get Latest News Updates

Latest News

You may like more
more

Veeva Systems Inc. (NYSE:VEEV) Stock Analysis: A Look into the Future

Jeff Garro from Stephens sets a price target of...

WTW (NASDAQ:WTW) Sees Price Target Increase to $382 by Jefferies

WTW Stock Price Target Raised by Jefferies - An...

Accenture (NYSE:ACN) Surpasses Earnings Expectations

Accenture's EPS of $3.59 exceeded the estimated $3.42, showcasing...

CarMax, Inc. (NYSE:KMX) Stock Upgrade by RBC Capital

RBC Capital upgraded CarMax, Inc. (NYSE:KMX) to "Outperform" with...