Netflix lays off following disastrous Q1 earnings

PROTOCOL ENTERTAINMENT:

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.

The layoffs come just days after Netflix’s Q1 2022 earnings report, which saw the company lose subscribers for the first time in over a decade. Following that earnings report, Netflix CFO Spencer Neumann said that the company would be pulling back on some of its spending to get costs under control.

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