Streaming giant Netflix has laid off nearly 150 employees, primarily in the US, as it suffers from slow user growth amid stalled paid subscription.
Netflix saw its stock tumbling by 20 per cent after it reported a loss of 2 lakh paid subscribers in the first quarter of 2022, its first subscriber loss in over a decade.
Netflix last month laid off several experienced journalists and writers working for its entertainment site Tudum which it launched only in December last year.
Netflix had hired experienced entertainment journalists from publications including Vice, Bustle and others. According to reports, most of the Tudum culture and trends team was fired.
The company has also told its employees that if they do not agree with its content, they can leave the streaming giant, a move that received a thumbs up from Tesla CEO Elon Musk.
"Depending on your role, you may need to work on titles you perceive to be harmful. If you'd find it hard to support our content breadth, Netflix may not be the best place for you," the company said.
Netflix will die?