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BREAKING
The Israeli army's investigation into the rocket that fell in Haifa without warning: The Iranian missile's warhead was not detected
Israeli media: The air force's surveillance systems failed to detect the Iranian missiles, leading to a series of failures
Israeli media: The army's investigation revealed that the missile was not detected, thus no interception means were fired at it, and the sirens were not activated
Israeli media: The army's updated investigation into yesterday's Iranian missile strike on Haifa reveals a serious flaw
Anwar Gargash, advisor to the UAE president: Smotrich's insolence has reached the point of calling for Gulf, German, French, and British funding for 'Israel's' war on Iran
Colombian President: The solution starts with Netanyahu, who should stop bombing Palestine, declare a ceasefire, and stop endangering all of humanity
Colombian President Gustavo Petro: It all started with the bombing of Palestinian children and the genocide of the people of Gaza, and now we are on the verge of a world war
Iranian Army Commander from War Operations Room: Every time the United States commits a crime, it receives a decisive response, which will happen this time as well
Spain's foreign minister: I will ask EU to approve immediate suspension of trade agreement with 'Israel'
Spain's foreign minister: I will ask EU foreign minister today to say no towar and yes to diplomacy

Netflix fires 300 employees in new layoffs

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Jun 2022 13:32
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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'Silicon six’ accused of dodging $278 bln in US taxes over 10 years

Netflix under fire over removal of Palestinian movies

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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