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Netflix laying off 150 employees amid low revenue and subscriber loss

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2 years ago

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Netflix is set to implement new cost cutting measures citing the low revenue growth

The largest streaming platform is laying off 150 staffers across the company with most of the cuts focused on the US office.

The layoff represents nearly 2% of the company’s total workforce of 11,000 employees.

One of Netflix’s representatives, while talking about the layoff, told CNBC

These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues.

This comes less than a month after the company recorded a fall in the number of subscribers.

Netflix shares have gone down significantly since January and the forecast shows further subscriber loss in the next quarter.

The company likely plans to introduce ads to the service or any one of its tiers after being ad free for years.

There might also be actions to prevent password sharing or charging users for doing so.

Shreya Vats contributed to this report

 

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Why every business needs end-to-end observability

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23 hours ago

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May 8, 2024

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In today’s fast-paced business landscape, organisations often grapple with complex IT systems which hinder operational efficiency.

To overcome the IT system shock, selecting the right vendor partner is crucial – as such, opting for end-to-end “observability” could be the right IT solution.

Observability provides comprehensive insights into every layer of the IT ecosystem to help businesses eliminate tool sprawl and enable proactive maintenance, optimised resource utilisation, and streamlined operations.

Rahul Tabeck, regional sales director ANZ at SolarWinds joins to celebrate the 25th anniversary of SolarWinds and discuss the changes the company has witnessed during their quarter of a century in the IT sector.

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How Google’s Gemini AI will stand against cyber threats

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1 day ago

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May 8, 2024

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AI takes centre stage at the RSA 2024 conference with Google unveiling advanced cybersecurity integration.

Among the myriad of announcements at this years RSA Conference, Google showcased the integration of an advanced Threat Intelligence Platform into its Gemini AI framework.

Tom Finnigan from Talkingbrands.ai joins from the RSA Conference to discuss. #featured #trending

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Can AI revolutionise the fashion industry?

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1 day ago

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May 8, 2024

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OpenAI took centre stage at this year’s Met Gala exhibition, offering a glimpse into the future of fashion and innovation.

This years exhibition theme “Sleeping Beauties: Reawakening Fashion,” will include a chatbot linked to a 1930s wedding gown worn by New York socialite Natalie Potter.

Powered by OpenAI’s GPT-4, the chatbot embodies Potter, answering visitors’ questions about her life and the dress.

Karen Sutherland from the the University of the Sunshine Coast joins to discuss. #featured #trending

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