Netflix cuts jobs in marketing reorganization
The switch in strategy involving focusing on the service as a whole
Netflix is overhauling its marketing strategy and with that comes some job cuts.
A Netflix source tells The Hollywood Reporter, 15 people are expected to be laid off this week, although that number could be higher.
Netflix's overall employee count as of October was around 6,900 people.
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The switch in strategy involving focusing on the service as a whole and not the marketing of individual shows and movies like it has in recent years.
Hollywood stars and creators may be concerned that switching the focus might mean marketing the A-list talent less.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NFLX | NETFLIX INC. | 579.34 | +14.19 | +2.51% |
Netflix declined to comment to The Hollywood Reporter.
New marketing chief Jackie Lee-Joe is said to be looking at structuring the team in a more effective way.
NETFLIX LOOKS TO FEND OFF DISNEY+ AS STREAMING WARS HEAT UP
In Netflix's latest earnings report, its global subscriber base grew 20 percent to 167 million members, however growth in the U.S. slowed.
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Netflix now has streaming competition from Disney, WarnerMedia and NBCUniversal.