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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Netflix fires 300 employees in new layoffs

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Jun 2022 12:32
2 Min Read

The bulk of the jobs lost were in the US.

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  • The streaming giant has a global workforce of around 11,000 employees (Reuters)
    The streaming giant has a global workforce of around 11,000 employees (Reuters)

Following a first round of layoffs that took place in May, streaming giant Netflix let go around 300 of its employees on Thursday, according to a report by Variety.

The bulk of the jobs lost are reported to be in the US, with the layoffs affecting a multitude of the company's business functions.

In May, Netflix fired 150 of its employees, as well as dozens of contractors and part-time workers, and said that more layoffs would follow this year as the company's stock price weakens.

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Since news came out that the company lost 200,000 subscribers at the start of the year, Netflix lost close to 70% of its value, with fears of losing 2 million subscribers in the second quarter, as opposed to Wall Street projections of the company adding 2.5 million subscribers.

To deal with their dire situation, the company's executives are now considering what everyone thought would have been impossible months ago: Open the service for advertisement in return for a lower-priced subscription.

The US economy is currently blasted by fears of a recession, with the US and Europe's economies slowing sharply in June amid rising food and energy prices.

S&P Global said on Thursday that the US composite purchasing managers index, which measures activity in the manufacturing and services sectors, fell in June from 53.6 (May) to 51.2, reaching its lowest level in five months.

  • Netflix
  • Unemployment
  • US unemployment

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