The association states that Netflix needs technical support to develop the tools Like ad programming that uses user information to give you Ads specific to your interests. In this sense, the company has distinguished: “We are still getting started and we still have a lot to do, But our long-term goal is clear. More choices for consumers and one Excellent corporate experience who want to sell their products.
Netflix losses in 2022
Since the announcement of the first quarter results that Netflix has lost 70% of its stock value and is undergoing a restructuring which began in May, with 150 more laid off. The cuts represent 3% of Netflix’ workforce It covers various job areas in the company, which is concentrated in the United States, specialized Hollywood websites reported. About 216 of the layoffs took place in the United States, 30 in Asia-Pacific countries, 53 in Europe, the Middle East and Africa and 17 in Latin America.
As the company tries to adjust to its new and weak stock position, CEO Reed Hastings and Ted Sarandos told their employees in an internal memo that “the two rounds of layoffs have been very hard on everyone and created a lot of anxiety and uncertainty., but we plan to return to the normal course of action in the future. A company spokesperson said that “while Netflix continues to invest significantly in the business, It adjusts so that its costs are in line with its diminishing profits.
After years of resting at the forefront of the movie and series streaming business, Netflix is finally giving up its absolute leadership in this area after absorbing new competitors like Disney+, Paramount+, Peacock and HBO Max into consumer options.which opposed the rights to the company’s own content to transfer it to its own platforms and weakened its film catalog. Netflix anywayIt plans to aggressively invest about $17 billion in 2022 to produce movies, series, and original content.