Netflix slashes staff after missing subscriber target
The streamer is said to have made the layoffs at Tudum, its website that promotes movies and TV shows on the platform.
Netflix has begun firing employees after missing its subscriber target.
The reductions come a week after online steaming platform lost 200,000 subscribers in the first quarter – its first subscriber loss in more than a decade.
Netflix warns it expects to lose even more in the current quarter.
The streamer is said to have made the layoffs at Tudum, its website that promotes movies and TV shows on the platform, five months after its launch in December 2021.
According to Netlix, Tudum covers exclusive content on its films, series, and stars, through exclusive interviews and behind-the-scenes videos.
According to reports from Bloomberg, the layoffs are a broader restructuring of the company’s marketing department.
The streaming giant said it is considering cheaper subscriptions with commercials.
It also hinted a crack down on password sharing between households after recording the steep drop in subscribers. It was reported that Netflix loses $6B a year in revenue due to password sharing.
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