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Netflix Lays Off 300 More Employees Due to Loss of Subscribers

La caída abrupta de Netflix demuestra que el libre mercado es la mejor forma de combatir los monopolios

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Netflix on Thursday laid off 300 employees, mostly in the United States and Canada, to adjust its accounts after the loss of subscribers it has been experiencing since the beginning of this year.

This is the second round of layoffs for the company, which in May fired another 150 employees after its shares plunged when it acknowledged to its investors that its growth had stagnated.

The cuts affect approximately 3% of the company’s worldwide workforce.

Most of the layoffs, 216, are in the U.S. and Canadian offices, while there are 53 in Europe, 30 in Asia and 17 in Latin America.

Despite the bad situation, the company promised that in the next year and a half its workforce could grow again by more than 1,000 new jobs, although it did not specify which areas will account for this growth.

According to the company’s latest earnings report, published in April, Netflix lost 200,000 subscribers during the first quarter of 2022, a period in which it posted a net profit of 1.597 billion dollars, down from the 1.706 it achieved during the first three months of the previous year.

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