In April 2020, Southeast Asian streaming service iFlix laid off more than 50 employees, representing over 10% of its estimated workforce of 420. The Malaysia-based startup, which operates in 13 territories and rivals Netflix, cited the unprecedented challenges of the COVID-19 pandemic as the reason. Despite a surge in viewership, with monthly active users up 42% to 21 million, the company faced a severe advertising budget crunch and halted new content production. This move, part of broader cost-cutting measures, aimed to help the loss-making firm navigate economic uncertainty and stay on track toward breakeven, though its planned IPO for the year became unlikely. The layoffs occurred shortly after rival Hooq filed for bankruptcy, highlighting the sector's strain even during a streaming boom.
