May 18, 2022
Netflix cuts 150 US-based jobs after losing subscribers
Netflix said the job losses were due to the slump in the company's revenue. In its earnings report last month, the company also said the war in Ukraine and the decision to raise its prices in the US had cost it subscribers. Pulling out of the Russian market alone had cost the service 700,000 members, it revealed. Along with job losses, the company is also cutting content and pulling back on its own creations. The company says it's looking at a cheaper, ad-based model and also planning on cracking down on password sharing which has cost it 100 million households.
Related companies
Make a complaint about Netflix by viewing their customer service contacts.
