:( Netflix has sacked about 150 employees in a cost cutting measure apparently due to ‘business needs.’ This second round of layoff roughly represents 2 percent of the total workforce at Netflix USA. The OTT giant has also dusted hands off 70 animation positions which means some major animation projects are being axed. The mail bluntly states that the company is slowing its cost growth owing to slumping revenue as reflected in their Q1 statement. Many companies have been seeing revenue loss ever since the pandemic but Netflix has been bleeding left right and centre. See Also: ‘Can Quit’ Netflix Warns Employees If They Don’t Like Content; Elon Musk Says ‘Good Move’Many sacked employees and artists took to the socials and shared their plight while looking for jobs.

Source: Los Angeles Times May 18, 2022 08:12 UTC