Netflix announced massive layoffs

Netflix has announced significant staff reductions that will take place primarily in the United States. According to an official commentary on the matter, the layoffs will take place in different divisions and are caused by the need to reduce costs, not the efficiency of individual employees.
As we explained in our first quarter earnings report, slowing revenue growth means we also have to slow our cost growth as a company. Unfortunately, today we are laying off about 150 employees, mostly from the United States. These changes are primarily driven by business needs rather than individual performance, which makes it especially difficult because none of us want to say goodbye to such great colleagues. We are working hard to support them through this very difficult transition," a Netflix spokesperson said in an emailed statement.
In addition, Netflix is eliminating about 70 part-time jobs at its animation studio, as well as cutting the number of freelancers in its social media and publishing group.
Recall that in the first quarter, instead of the growth in subscribers that the company itself predicted, there was a sharp decline in the number of subscribers. Netflix's departure from the Russian market was also cited as a reason. The securities fell seriously in value. Shareholders lost billions of dollars.