Netflix Lays Off Around 150 Employees, Speculations That The Cuts Are Mainly From Its Diversity Departments Have Surfaced

Netflix Lays Off Around 150 Employees, Speculations That The Cuts Are Mainly From Its Diversity Departments Have Surfaced

Streaming service Netflix recently confirmed they will be letting go of employees from its workforce.

According to reports, about 150 mostly US-based employees will be laid off across the company. The removed positions reflect less than 2% of the platform’s 11,000 staffers.

The cuts come shortly after the company reported their first subscriber loss, resulting in the streamer’s “slowing revenue growth.” A Netflix representative said in a statement:

“As we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly US-based. These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues. We’re working hard to support them through this very difficult transition.”

As expected, the staff reductions comes less than a month after Netflix reported its global subscriber base fell by 200,000. The sharp drop occurred in the first quarter of the year from where the company ended in 2021 — their first drop in more than a decade.

Since the streaming service made its announcement, speculation that the cuts are mainly from its diversity departments have surfaced on social media. Netflix has been trending on Twitter as people react to the layoffs.

See reactions below:

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[Sources: 1, 2]