The Good, Bad, and Ugly of Layoffs at Netflix
Netflix (NASDAQ: NFLX) is mortal. The planet's leading premium-streaming service confirmed a round of layoffs on Tuesday, cutting loose roughly 150 positions in the process. Many of the jobs eliminated are part-time jobs at its animation studio and freelance gigs at its social media and publishing group.
No company grows in a straight, upward-moving trajectory, but you don't often hear about a company rightsizing its workforce until it stumbles. Netflix has certainly taken a spill. It just experienced its first sequential decline in subscribers in more than a decade, and the stock is trading 73% below last year's highs. Let's go over the good, the bad, and the ugly behind this latest development.
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