It truly has been an eventful year for Netflix. They have seen their fair share of ups and down in just four months. They had a great start to the year with Originals like Vikings: Valhalla, Bridgerton season 2, and The Adam Project. It looked like everything was going their way. But then the announcement of Netflix losing its subscribers came.
And since then, the company has been on a discourse to make up for the losses by incorporating new strategies. However, not all strategies are going to please everyone, especially not the employees.
Netflix employees are getting skeptical of company policies
The firm, based in Los Gatos, California, considers its roughly 11,300 employees as members of a pro-sports team, in which every player must be a great performer. Netflix describes its culture as “a team, not a family.”
What happens, though, when the entire team’s performance is questioned?
Netflix said last week that it had lost 200,000 subscribers in the first quarter and that it expects to lose another 2 million this quarter for the first time in more than a decade. The news alarmed investors, who worried if the streaming behemoth had lost its magic touch. On April 20, the stock dropped by 35%, the most in a single day since 2004.
However, many employees are filled with dread and anxiety due to the company’s poor membership numbers and response.
Some fear that the streaming behemoth hired too quickly and became comfortable as subscriber numbers soared in the early days of the outbreak. Others are dubious of strategic adjustments and worried that Netflix’s unique culture is changing.
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An employee, while speaking about the company’s change in compensation policy, said, “where is the accountability for leaders who made the bad decision to overhire?”
This remark was made after it was announced that new policies would favor the less experienced with low pay.
Reduction of several roles
Many people are concerned about their job security, which worsened on Thursday when Netflix announced the elimination of an undetermined number of marketing-related roles, including those at Tudum.
What do you think about the new policies that Netflix is adopting? Let us know in the comments.