Netflix Tells Employees To Spend Company Money Better – Signaling More Problems For The Streaming Service

The issues are piling up for Netflix.

Back in April, Netflix began firing staff at the online entertainment magazine they launched. It is unclear how many remain.

Politico reported: 

The belt tightening appears to have started at Netflix: A number of journalists working for the company’s entertainment site Tudum have been laid off, according to tweets by those affected. A Netflix spokesperson told Protocol Thursday that there were no plans to shutter the site, calling it “an important priority for the company.”

Netflix had launched Tudum as a kind of online entertainment magazine focused on content streaming on its service in December. The company had hired entertainment journalists from publications including Vice, Bustle and elsewhere to staff the site. It’s unclear how many Tudum writers currently remain at the company.

Netflix announced that they lost 200,000 subscribers in just three months – their target was gaining 2.5 million subscribers.

The Mirror reported:

Netflix has sped up plans to introduce a cheaper subscription plan in a bid to retain customers, after its quarterly figures revealed it had lost 200,000 people in just three months.

…

On April 19, Netflix announced its numbers had fallen for the first time in a decade – losing 200,000 customers against a target of adding 2.5million new subscribers.

This has led Netflix to worry about how company money is being spent.

Netflix sent a memo to its employees to be more careful with how company money is being spent.

Fox Business reported: 

Streaming giant Netflix is advising its employees to be more careful with how they are spending company money, according to a new memo posted to the company’s website.

The directive is found in a memo, first reported by Variety, titled “Netflix Culture – Seeking Excellence.” Under the “Judgment” section, it encourages employees to “spend our members’ money wisely.”

The memo goes on to detail other company best practices like selflessness, courage, communication, inclusion and more.

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