Netflix allegedly canned every minority program and outlet they had

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Netflix cuts 70 animation studio and 60-70 social media roles on top of 150 employee layoffs

Netflix cuts 70 animation studio and 60-70 social media roles on top of 150 employee layoffs
Elaine Low16 hours ago
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Netflix cut 70 roles in its animation studio and 60-70 in social media in addition to 150 full-timer layoffs.
The streamer also axed or delayed some animation projects, including one based on Roald Dahl's "Matilda."
The cuts and layoffs come as Netflix faces subscriber losses and new competition in streaming.
In addition to layoffs of 150 full-time Netflix employees on Tuesday, the company has cut another 70 workers from its animation studio as several planned animated series and films have gotten the axe. The streamer also let go of 60 to 70 contractors working for Netflix 's social media and publishing channels, including Strong Black Lead, Asian American-focused Golden, Latinx-focused Con Todo, and LGBTQ-focused Most.

Among the animated projects not moving forward, as Variety first reported: the Ava DuVernay-produced series "Wings of Fire," "With Kind Regards from Kindergarten," and "Antiracist Baby," the last of which is based on the Dr. Ibram X. Kendi children's book. The animation roles, including writers and crew members, were not full-time but related to the projects that had been scrapped.

Additionally, Insider has learned that several animation projects have been sent back to development, including the highly anticipated "Matilda" animated series, based on the Roald Dahl novel. Netflix's September acquisition of the Dahl catalog was a key IP acquisition for the company in the children's space.

Furthermore, dozens of writers and contractors for the streamer's social media channels and editorial verticals have been let go, including some at fan site Tudum, which saw a previous round of contractor job cuts in April.

"I moved into a new apartment that I'm now trying to figure out how to afford," one Netflix contractor who was laid off today told Insider.

The wide layoffs, while a fraction of Netflix's 11,000-person staff worldwide, raise alarm bells for those watching the streamer's business and follow smaller personnel reductions over the last month. In April, Netflix laid off 25 full-time staffers in marketing, in addition to nearly a dozen workers at Tudum, which launched in December.

The 150 full-timers impacted on Tuesday worked across divisions, with Deadline reporting that some original content executives were swept up in the layoffs.

A string of bad news has dogged Netflix, and the layoffs follow a particularly rough first-quarter earnings report that revealed the loss off 200,000 subscribers and forecast another 2 million of its 221 million subscribers would leave the service in the current fiscal quarter.
 
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Netflix Hit By Layoffs; About 150 Mostly U.S.-Based Employees Affected – Deadline

Netflix Hit By Layoffs; About 150 Mostly U.S.-Based Employees Affected
Nellie Andreeva

AP
EXCLUSIVE: Layoffs are underway at Netflix today. About 150 positions out of the streamer’s workforce of 11,000 are being eliminated amid a slowdown in the company’s revenue growth.

They are largely based in the U.S., with a significant portion in creative, across both film and TV, sources said. A number of those laid off are in the executive ranks, including in original content, I hear, with a couple of director-level original series execs rumored to be leaving. There is also rampant rumor that the indie film division will suffer heavy casualties but sources internally say that is not the case.

“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,” a Netflix spokesperson said in a statement to Deadline. “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”.

UPDATE: Netflix is not commenting on any individual layoffs. Rumors are flying, some of the names at executive level I hear are leaving across TV and film include Sebastian Gibbs and Penelope Essoyan in Drama Series, Negin Salmasi in Spectacle and Event TV as well as Nathan Kitada, Fidan Manashirova, Naketha Mattocks, Brad Butler and Caroline Mak.

Today’s cuts follow the layoffs a couple of weeks ago of editorial staffers and contractors at Tudum, Netflix’s fan site that’s devoted to behind-the-scenes news relating to the streaming giant’s content.

The staff reductions have been expected. Netflix’s stock has fallen sharply after the streamer reported last month that its global subscriber base declined by 200,000 in Q1 from where the company ended 2021, the first drop in more than a decade.

The Street also had expected more from the streaming giant in term of revenue, with a consensus among analysts calling for $7.93 billion. Netflix reported $7.868 billion in revenue in Q1, up less than 10% from a year ago.

“Our revenue growth has slowed considerably as our results and forecast below show,” the company said in its quarterly letter to shareholders. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration – when including the large number of households sharing accounts – combined with competition, is creating revenue growth headwinds.”

On the Netflix earnings call, Netflix CFO Spencer Neumann spoke about cost-cutting measures in the coming months.

“…presumably, for the next 18, 24 months, call it the next 2 years, we’re kind of operating to roughly that operating margin, which does mean that we’re pulling back on some of our spend growth across both content and noncontent spend, but still growing our spend and still investing aggressively into that long-term opportunity,” he said. “We’re trying to be smart about it and prudent in terms of pulling back on some of that spend growth to reflect the realities of the revenue growth of the business.”
 

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Here we go with the trans and the alphabets with their nonsense

All these networks, streaming platforms are cutting employees

We heading for a recession sooner than later
you're aware, they see black people in the same camp as gays, right?
 
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