Netflix doing mass layoffs today?
Just heard word from a friend who has a connection there that got the axe. 2 weeks before Christmas. Classy..
EDIT: changed the title to a question and make it an Ask HN instead of a Tell HN. My source told me it was a mass layoff but it might be smaller in scope than I was lead to believe. Apologies for the FUD here if so.
This really shouldn't be a shock for Netflix employees. According to Netflix's culture page (https://jobs.netflix.com/culture) They are a team, not a family.
When you're on a team you know you can be cut at any moment. It's ruthless over there and the recruiters will make sure you're aware of that early in the interview process. Netflix was never known as a good place to work which is why they pay outrageous salaries and the average employment length is a little over a year.
One last flush before inflation disappears and tech booms, plausible deniability is still available. In six months, things will have recovered too much to allow for the optics of big layoffs.
Edit: for the doubters, the stock market is clearly pricing in inflation dropping, your current analysis doesnt take into account any data that hedge funds and investors are trading on
Sorry everyone. After about 15 years of giving Netflix money every month, I canceled last week. Must have really hurt their bottom line.
Did every employee receive statistics about how much they were watched in the first half of this year?
"Mass Layoffs" seems...suspect. I haven't heard of a single person in my sphere of influence being hit by layoffs, and I work with a lot of folks. Where did you get your info OP?
This is false, as far as I can tell. I am currently in a Netflix office.
Wouldn’t we be seeing some kind of press release if a mass layoff was underway? If it is and no statements have been made, they’d be opening themselves up to all kinds of trouble with their investors and the SEC.
My friend at Netflix didn't hear anything, though. Are you sure it is a "mass" layoff and the folks getting let go aren't contractors or let go due to perf?
I would be surprised if Netflix was doing "mass" layoffs, they keep a pretty lean ship compared to other companies from what I've heard.
Feels bad. Good luck to everyone. This job market is bad enough as it is. I'll see ya'll in retail or woodworking. o7
Word from a friend of a friend. Solid source.
Damn, even for run of the mill, retail labor I've seen courtesy extended as wait until January
Not sure if they’re based in california and (so) if what about to say applies, but: afaik there’s a labor law in california that mandates companies planning to do mass layoffs to announce that in advance.
There might be a source of truth in there.
Inflation is easing, market is going up. But more fucking layoffs... great.
Netflix lost the love.
https://bleedingcool.com/tv/netflix-love-is-sharing-a-passwo...
They cracked down earlier this year on password sharing. I cancelled my account; been using disney and prime more. It was a dumb time for them to backtrack on password sharing. People were already feeling like they had too many streaming services.
What is considered as mass? 10, 100, 1000, 10K? Number matters.
Right before the holidays...wow.
hopefully severance is good. hard to find positions at the end of the year and health insurance
We are also doing mass layoff in Jan, TBH would rather have it in Dec to have peace of mind.
my friend at netflix didn't hear anything though
The only way you can act is with your money. If you disagree, cancel your Netflix account and torrent their content.
I hope they get a good deal.
I feel like there used to be somewhat of an unwritten social contract about things like layoffs before the holidays.
Seems exceptionally cruel. Honestly I feel sick to my stomach when I think about it.
this is what a fully employed america looks like, huh
Of course they are. All those pointless microservices crap will not lose time and money themselves.