Streaming giant Netflix has terminated the contracts of 150 employees, a month after the company announced losing 200,000 subscribers for the first time in a decade.
According to Netflix that announced the news on Tuesday, the layoffs will affect its US office in California.
The company said that the decision was made because of the recent plunge in revenues.
"These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues," the company said in a statement.
After Losing Subscribers for the First Time, Netflix to Launch Lower-Priced Service With AdsAs of December, Netflix had around11,300 full-time employees. Therefore, the current layoffs represent 1.3% of its global workforce. In April, the company has fired around 25 employees in marketing-related jobs, including contractors who had been there less than a year.
However, this time Netflix didn't disclose which parts of the business would suffer from the job losses, but the Los Angeles Times reported that recruiting, communications and also the content department were all affected.
