Get woke, go broke.
Netflix began layoffs on Thursday, just days after its stock plummeted.
Netflix shares cratered more than 20% last Tuesday after the company reported a loss of 200,000 subscribers in the first quarter.
Meanwhile at Netflix:
Netflix: we can’t figure out why we’re hemorrhaging hundreds of thousands of subscribers.
Also Netflix: pic.twitter.com/sDGqiXL75l
— Donald Trump Jr. (@DonaldJTrumpJr) April 21, 2022
Netflix began laying off people at Tudum, a website that promotes shows on the streaming service just a few months after it launched.
The belt tightening appears to have started at Netflix: A number of journalists working for the company’s entertainment site Tudum have been laid off, according to tweets by those affected. A Netflix spokesperson told Protocol Thursday that there were no plans to shutter the site, calling it “an important priority for the company.”
Netflix had launched Tudum as a kind of online entertainment magazine focused on content streaming on its service in December. The company had hired entertainment journalists from publications including Vice, Bustle and elsewhere to staff the site. It’s unclear how many Tudum writers currently remain at the company.
Journalists working at Tudum/Netflix and their supporters aired their grievances on Twitter.
— sara david (@SaraQDavid) April 28, 2022
i'm so sorry to everyone affected by the layoffs today. it is actually unhinged that a corporation would do all that they've done on the tudum front only to completely lay waste to their staff within 7 months.
— Alicia Lutes (@alicialutes) April 28, 2022
Netflix decides to cut its whole Tudum editorial stuff after…what, like a few months?https://t.co/8ZwZYzBV6f
— M.H. Williams (@AutomaticZen) April 28, 2022
At least two staffers who left full time jobs to work for Tudum/Netflix were let go today.
"I wouldn't have left my job if I knew I wasn't going to have a job in [several] months"
At least two staffers who spoke with me had left full-time jobs to join Netflix. Some were talking about the layoffs on Slack AS their Slack accounts were deactivated https://t.co/3g8Xzfs3ic
— Elaine Low (@elainelow) April 28, 2022
— Brent Lang (@BrentALang) April 28, 2022