MediaUS

Netflix Layoffs

June 2022

Netflix announced a layoff affecting 300 employees (3% of its workforce) in June 2022. The company operates in the Media sector.

People Affected

300

Percentage

Announced Date

Jun 23, 2022

About

Netflix is laying off approximately 300 employees, representing about 3% of its workforce, as confirmed in June 2022. This follows an earlier round of 150 layoffs a month prior, both driven by the company's first subscriber loss in a decade and a strategic shift to align costs with slower revenue growth. The streaming giant, part of the technology and entertainment industry, had warned investors it would moderate spending growth while still investing heavily in content. These cuts reflect broader adjustments as Netflix explores ad-supported tiers and addresses password sharing to reignite subscriber growth amid challenging market conditions.