[1andrew1]

Not a significant number given their size but indicative of the company's direction nonetheless.

Netflix cuts 150 jobs after subscriber exodus

US-focused redundancies in film and TV operations follow revenue slowdown

Netflix is cutting 150 jobs as the streaming company seeks to reduce its costs after revealing it expects to lose millions of subscribers in the first half of the year.

The widely expected cuts are mostly focused on its US operation, affecting employees in its sprawling film and TV divisions.

This month, Netflix’s market value was slashed by almost $60bn as investors panicked that the decade-long boom in the streaming sector had come to an end, after the company reported its first loss of subscribers in 10 years.

As of December, Netflix had about 11,300 full-time employees, meaning the cuts represent 1.3% of its global workforce. Last month, it laid off about 25 employees in marketing-related jobs, including contractors who had been there less than a year.

Netflix, which plans to focus on a “less is more” strategy of fewer but higher-quality commissions of series and films, is estimated to be spending $17bn on making and licensing content this year. The company has said it expects to trim its budgets.

https://www.theguardian.com/media/20...ilm-tv-revenue