A significant number of employees from Netflix’s in-house publication / website, Tudum, was laid off just months after being hired. Tudum primarily promotes Netflix’s film and television shows.
These layoffs are in line with the Company’s attempts to restructure the marketing department. However, the streaming service clarified that it is not shutting down Tudum.
It has hardly been a month since Bozoma Saint John, Netflix’s chief marketing officer, quit the Company.
With stiff competition from Disney+ and HBO Max, Netflix has been struggling to maintain market share. It is reported that in the first quarter of 2022, the streaming service lost two lakh subscribers. It is the first time in ten years that such a loss of subscriptions has happened. For the second quarter, the global subscription loss predicted is worth about two million.
Many of the employees who have been laid off were hired as writers and editors quite recently. As per the posts of some on social media, they quit perfectly sound journalism jobs to join Netflix and have now been rendered jobless so soon after joining. A significant number of those asked to leave are Black, Asian and Latin American women, according to media reports.
Netflix has almost 222 million paid subscribers. However, the Company estimates that an additional 100 million households use the service by sharing passwords.
Now that Netflix is experiencing a record drop in subscribers and stock price, it is looking at ways to stop this practice of password sharing.