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Skavau@piefed.socialM to Television@piefed.socialEnglish · 7 days ago

Netflix Is Profitable and Still Growing. Why Did It Just Make a Huge Round of Layoffs and Oust Its Top Content Exec?

variety.com

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Netflix Is Profitable and Still Growing. Why Did It Just Make a Huge Round of Layoffs and Oust Its Top Content Exec?

variety.com

Skavau@piefed.socialM to Television@piefed.socialEnglish · 7 days ago
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Netflix is profitable and still growing. So why did it lay off 6% of its employees, cutting 1,000 jobs in its biggest workforce reduction to date?
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  • Llamatron@lemmy.world
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    7 days ago

    Those profits are not for the workers

    • jtrek@startrek.website
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      7 days ago

      More people need to hear this.

      Workers build stuff, and then the “owners” get to keep the profits.

      Saw someone post this old comic the other day: https://www.researchgate.net/figure/Fred-Wright-cartoon-So-Long-Partner-Fred-Wright-C-UE-Used-with-permission_fig1_265014375

      • tacosanonymous@lemmy.blahaj.zone
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        7 days ago

        We should create a system where the workers are the owners.

        • zikzak025@lemmy.world
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          4 days ago

          How absurd. You may as well say the commons should govern themselves instead of the nobility.

        • boonhet@lemmy.zip
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          6 days ago

          You’ll improve things a bit for sure, but most assets are owned by the old. Turns out an aging society means retirees own everything and workers don’t get shit.

          Always a balance between workers and people too old, young, or disabled to work. If you give everything to workers, those other groups don’t get shit.

  • NaibofTabr@infosec.pub
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    7 days ago

    line goes up

  • Jesusaurus@lemmy.world
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    7 days ago

    Profiteering

  • Janx@piefed.social
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    4 days ago

    Because that’s all CEOs know how to do these days: raise prices and layoff people.

  • atrielienz@lemmy.world
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    6 days ago

    Part of the problem is the people who didn’t quit. Netflix rolled out that BS account sharing ban in South American countries and I was like, “I’m out”. It’s been 6-ish years. I don’t need it.

    A lot of people when that feature came to America said they would leave. They didn’t. We let them continue to be profitable. They were never going to do right by customers or employees. If anyone expected that, I have some public landmarks for sale.

  • hitmyspot@aussie.zone
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    Profit and growth are different. They are profitable. They’ve stopped growing. Inevitable but still seems to surprise investors.

    • boonhet@lemmy.zip
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      Their growth has stopped growing. Their revenue is still growing, just slower.

  • gergo@lemmy.world
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    6 days ago

    IT’S BECAUSE OF SONARR! /s

  • Amuro_eat@lemmy.blahaj.zone
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    6 days ago

    I like how the headline is like a rhetorical question

  • Tollana1234567@lemmy.today
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    6 days ago

    RECORD PROFITS, LAYING off people,.

  • atro_city@fedia.io
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    6 days ago

    Don’t have and never will have a Netflix account. Fuck em.

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