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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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Success

New Netflix layoffs open old wounds for jilted employees

By
Chloe Berger
Chloe Berger
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By
Chloe Berger
Chloe Berger
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April 29, 2022, 3:34 PM ET
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For the first time in a decade, Netflix has lost subscribers, shedding 200,000 users last quarter, the company announced in its earnings report this week. Netflix stock dropped nearly 38% on the news. 

“Well, it’s a bitch,” co-CEO Reed Hastings said at a staff town hall following the news on April 20, the Wall Street Journal reported. 

Now the layoffs have begun.

Netflix confirmed to Fortune that around 25 staff members and contractors in the company’s marketing department were cut on April 28. Workers at Tudum, the company’s editorial website for Netflix fandoms, experienced the most drastic layoffs: At least 10 full-time staffers were cut without warning, Vulture reported.

Tudum writers who shared that they were laid off after being recruited just months ago for the new project received a flood of support on social media. 

Netflix recruited me seven months ago only to lay me and a bunch of other talented people off today. I’m going to take time off to just exist, so please get in touch if you’ll have editing and content strategy opportunities open after August. EvetteDionneWriter@gmail.com

— Evette Dionne (@freeblackgirl) April 28, 2022
https://twitter.com/byalexzaragoza/status/1519755315025268742

Many of the people who joined Tudum were former journalists looking for more job stability with Netflix, and their termination after such a short time at the company was reminiscent of the constant layoffs in digital media. 

This mass Netflix layoff is crazy! Was just talking to a colleague about the state of publishing and the enticing pull of tech and streaming platforms last night but now this. Where are the safe spaces for journalists?

— Shelton Boyd-Griffith (@flyrebel) April 28, 2022

Maris Kreizman, host of Lithub’s podcast The Maris Review, implied that the Netflix layoffs were symbolic of digital media’s attitudes toward employees.

“A bunch of my favorite writers were recruited to do editorial for Netflix and I really thought they’d be safer there, at least for a while. But I guess digital media is still digital media,” tweeted Kreizman. 

A bunch of my favorite writers were recruited to do editorial for Netflix and I really thought they’d be safer there, at least for a while. But I guess digital media is still digital media.

— Maris Kreizman (@mariskreizman) April 28, 2022

Sara David, a former Tudum employee, tweeted that fired employees were offered two weeks of severance pay, prompting more backlash as others pointed out that many writers likely relocated for their new job.

https://twitter.com/iSmashFizzle/status/1520012068270788611

The shine of some streaming services has recently dulled. Besides the Netflix news, CNN+ announced it was closing its virtual doors on April 30, just weeks after launching. 

“The bloom has been off the rose for a while. Internally, the feeling that it’s the place to work has been fading long before this. You’re just seeing it now,” an anonymous Netflix executive told the Hollywood Reporter.

April 29, 2022: This story has been updated to clarify that Netflix confirmed details of the layoffs to Fortune.

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