Yahoo News Netflix Lays Off About 15 In Marketing Division
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Netflix has laid off roughly 15 employees in its marketing division, according to a source close to the streaming giant. The exits confirmed Tuesday are part of longer-term structural tweaks in the department that we hear has has been ongoing since the arrival of its new chief marketing officer, former BBC Studios exec Jackie Lee-Joe.
Lee-Joe, who began in September and relocated to Los Angeles, arrived amid a crucial period in the streaming space, given specifically Netflix’s ambitious international growth plan and push into awards season (it has the most Oscar nominations of any company this year), in addition to increasing competition.
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In addition to rivals Amazon and Hulu, Disney+ and Apple TV+ services have launched, with AT&T’s HBO Max and Comcast’s Peacock still to come.
Deadline hears that despite the layoffs, Netflix will continue to do title marketing.
The latest news comes after Netflix reported fourth-quarter earnings last week that blew past estimates with revenue at $5.47 billion and earnings per share of $1.30. It said it added 8.76 million global paid subscribers during the quarter, bringing its total to 167.1 million, a number that beat expectations overall but was still soft on U.S. additions.
Netflix had seen subdued growth in domestic subscribers versus international even before the glut of new entrants.
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