Netflix laysoff 150 Employees across the company

150 jobs were just slashed

Netflix lays off 150 employees across the company.

The layoffs represent 2% of the streamers's total workforce, with most of the cuts happening in the united states'. Netflix is also making changes to it's animation division and is also cutting freelance roles in it's social media and publishing group.

Variety exclusively reported that Netflix has axed  several animated projects including "Wings of fire"

From executive producer Ava Duvernay," Antiracist Baby", a series aimed at preschool and with kindergarten.

" A number of agency contractors have also been impacted by the news.

Netflix surprised wall street   in the first quarter (Q1) of 2022, reporting a net loss of 200,000 Streaming customers it's first decline in more than a decade.

Netflix said it experts to drop 2 million more subscribers in the Second Quarters (Q2).The subscribers miss and weak guidance led to biggest ever one day drop in Netflix's market cap, as the company lost $54 Billion in value on April 20th.

The stock is down 65% year-to -date.

The job cuts Tuesday come after Netflix laid off about 25 employees in its marketing group last month, including many on its Tudum fan-focused content team.

Netflix budget cuts have yet to win back shareholders. On may 4th Netflix filed a lawsuit over subscribers losses and also sharing up shared  account will create some new subscribers.... 

We can't imagine how slashing programming will lead to a boom in new viewers.