While Netflix has made efforts to wake from woke by backing talent like Dave Chappelle and Ricky Gervais, they still have a lot of cleaning up to do to stop the bleeding. According to a report from Breitbart News, Netflix was forced to layoff 300 employees on Thursday.
“We plan to return to a more normal course of business going forward. And as we cut back in some areas, we also continue to invest significant amounts in our content and people,” co-CEO Reed Hastings said in a memo obtained by The Hollywood Reporter.
From Breitbart News…
In May, the streamer laid off 150 employees, or 2 percent of its workforce, as part of its ongoing efforts to cut spending amid a catastrophic subscriber forecast for the months ahead. Netflix said it could lose up to 2 million subscribers in the coming months after unexpectedly losing 200,000 customers in the first quarter of the year.
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Customers are abandoning Netflix in droves as the streamer faces competition from Disney+, HBO Max, and other services launched by legacy studios. Subscribers are also growing increasingly fed up with Netflix’s left-wing programming that has pushed woke politics and embraced former first couple Barack and Michelle Obama, who have a production deal with the streamer.
Netflix shares are down a staggering 70 percent for the year so far.