Netflix has laid off an additional 300 employees.
The news Thursday comes after Deadline revealed in May that redundancies were underway, with an initial 150 positions eliminated as a result of the slowdown in the company’s revenue growth.
“Today we sadly let go of around 300 employees,” a Netflix spokeswoman told Deadline. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”
We’re hearing that the cuts are impacting a number of different teams, mostly in the U.S. but also including Asia Pacific, Europe, Middle East and Africa and Latin America including the company’s legal and product divisions.
Netflix has a global workforce of around 11,000.
The latest layoffs come after Netflix...
The news Thursday comes after Deadline revealed in May that redundancies were underway, with an initial 150 positions eliminated as a result of the slowdown in the company’s revenue growth.
“Today we sadly let go of around 300 employees,” a Netflix spokeswoman told Deadline. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”
We’re hearing that the cuts are impacting a number of different teams, mostly in the U.S. but also including Asia Pacific, Europe, Middle East and Africa and Latin America including the company’s legal and product divisions.
Netflix has a global workforce of around 11,000.
The latest layoffs come after Netflix...
- 6/23/2022
- by Peter White
- Deadline Film + TV
There are a few pieces of development news for you today. Deadline tells us that Kario Salem – who is working with DreamWorks and Warner Bros. on a biopic of Martin Luther King Jr. — has signed with the former studio on another project, one only described as a crime thriller. Produced by Gary Foster, Russ Krasnoff, and Adrienne Maloof, the story is said to be “inspired by true events,” centering on “decorated war hero returns home to a job as a police officer, and to the woman of his dreams.” Things go awry when “everything he believes in turns out to be fiction.”
Kalem has been getting a decent amount of work lately, having written the Patricia Cornwall adaptation Scarpetta, which will star Angelina Jolie, as well as Curtis Hanon‘s Mavericks, starring Gerard Butler. I’m not familiar with any of his writing, sadly, so it wouldn’t be possible...
Kalem has been getting a decent amount of work lately, having written the Patricia Cornwall adaptation Scarpetta, which will star Angelina Jolie, as well as Curtis Hanon‘s Mavericks, starring Gerard Butler. I’m not familiar with any of his writing, sadly, so it wouldn’t be possible...
- 6/28/2011
- by Nick Newman
- The Film Stage
Exclusive: Twilight Saga star Peter Facinelli is producing an adaptation of Street Soldier: My Life as an Enforcer For Whitey Bulger and the Boston Irish Mob, an adaptation of the Edward MacKenzie and Phyllis Karas book. Facinelli Films is teamed with Brookstreet Pictures on an indie film that will tell the story of Bulger's rise and disappearance from the Boston mob scene. While Bulger was said to have informed the character that Jack Nicholson played in The Departed, his tale has drawn film interest after he was apprehended in Santa Monica after vanishing in 1994 as federal agents were about to arrest him in connection with 21 killings, racketeering and other crimes perpetrated in the 70s and 80s involving his Winter Hill gang. Fortunately for Facinelli, he got involved nine months ago and has a Nick Gordon script and funding commitment from Brookstreet Pictures. He wants to tell the story from the vantage point of MacKenzie,...
- 6/28/2011
- by MIKE FLEMING
- Deadline
COLOGNE, Germany -- Ex-CBS Paramount executive Tom Russo and former CAA agent Geoff Yim have joined Intermedia Film Equities as the new president and deputy head, respectively, of the group's television division Intermedia TV.
Intermedia's German parent, IM Internationalmedia, announced the appointments Wednesday.
Russo was previously a senior vp at CBS Paramount, where he worked on such series as Ghost Whisperer, Everybody Hates Chris and Numb3rs. In his new job, he will be responsible for TV development and production at Intermedia.
Yim will operate as deputy head of production at Intermedia TV.
Both Russo and Yim will work with Scott Kroopf, managing director of IM's motion picture group, and Alison Haskovec, vp of production.
The appointments are part of IM's strategy of balancing the company's high-risk, big-budget film projects such as Alexander and Basic Instinct 2 with less risky television and genre productions.
Last year, IM lost 3.7 million ($4.8 million), due in large part to the poor boxoffice of Basic Instinct 2.
In November, IM signed a three-year co-production deal with CapCo Group, which will see the production-financing entity provide a $150 million credit line to IM in exchange for worldwide distribution rights to IM productions.
Intermedia's German parent, IM Internationalmedia, announced the appointments Wednesday.
Russo was previously a senior vp at CBS Paramount, where he worked on such series as Ghost Whisperer, Everybody Hates Chris and Numb3rs. In his new job, he will be responsible for TV development and production at Intermedia.
Yim will operate as deputy head of production at Intermedia TV.
Both Russo and Yim will work with Scott Kroopf, managing director of IM's motion picture group, and Alison Haskovec, vp of production.
The appointments are part of IM's strategy of balancing the company's high-risk, big-budget film projects such as Alexander and Basic Instinct 2 with less risky television and genre productions.
Last year, IM lost 3.7 million ($4.8 million), due in large part to the poor boxoffice of Basic Instinct 2.
In November, IM signed a three-year co-production deal with CapCo Group, which will see the production-financing entity provide a $150 million credit line to IM in exchange for worldwide distribution rights to IM productions.
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.