It’s no secret that ongoing economic problems are putting many businesses in a tight spot. This especially applies to small businesses; however, large companies are far from immune to it.
Many tech giants, for instance, are making headlines for laying off their workers as a means of reducing overhead expenses. Between inflation, the supply chain, and other relevant factors, business isn’t booming for these companies as it used to be.
Unfortunately, layoffs come during a time when people are most in need of their jobs. As prices rise, having to leave their jobs puts Americans in an incredibly vulnerable position of wondering what comes next.
This is especially the case for many people who worked for Netflix, as reported by Newsmax.
Major Problems With Netflix
Netflix is currently making headlines for scrapping nearly three dozen workers in its animation department. This comes on top of another 450 employees that the streaming service let go of just earlier this year.
As it turns out, this goes hand-in-hand with Netflix losing hundreds of thousands of subscribers on a monthly basis. This is causing serious problems and forcing the company to strategize about new ways to get subscribers back.
1899 – from the creators of DARK – coming soon to Netflix. pic.twitter.com/0oGFXkRSOt
— Netflix UK & Ireland (@NetflixUK) September 15, 2022
In light of how things are going, Netflix is having to consider how it can cut its losses and increase its gains. Some reports note the streaming service will soon offer an option that lets people access Netflix for a reduced rate, but with ads between content.
On social media, however, there’s been an overwhelmingly negative reaction to the idea of Netflix bringing ads to its content. In fact, Netflix has been widely praised for not having ads on its shows and movies, unless other competing platforms like Hulu and HBO Max.
Time Will Tell
Collectively and despite documented losses, Netflix’s current subscriber base is still in the 220 million zone. By the time this year’s third quarter comes to a wrap, the streaming service is projected to gain roughly one million subscribers.
Time is ultimately going to determine how long it takes for Netflix to get ahold of things and return to its former glory.
The streaming platform’s continued layoffs may help the company, but it certainly hurts workers who were dependent upon these jobs to feed their families.
"More than 39,000 workers have been let go in the U.S. tech sector alone as of August, including employees at industry titans like Peloton, Shopify, and Netflix."https://t.co/lpzM35xvVL#TheGreatResignation #career #layoffs #jobsearch #recruiter pic.twitter.com/XZFAKA2Drz
— Walrath Recruiting (@WalrathRecruit) September 6, 2022
Netflix has made no mention of when it plans to end the trend of layoffs or even begin hiring or re-hiring workers. All things considered, it appears the streaming service is operating on a case-by-case basis.
What are your thoughts about all the problems that Netflix is having? Do you believe the company is going to be able to eventually turn things around for the better? Feel free to share your thoughts about Netflix with us in the comments area.
This article appeared in The Conservative Brief and has been published here with permission.