Netflix Reorganizes Marketing Team as Layoffs Hit Department
variety.comNetflix is reorganizing its marketing department, promoting some key executives, while eliminating several positions. As part of the move, 25 people from Netflix’s global marketing team of more than 500 employees will be laid off, Variety has learned.The cuts come after Netflix announced in its most recent earnings call that it had lost 200,000 subscribers, with the slowing revenue growth causing its share price to slide.
Netflix has signaled to investors that it is committed to maintaining operating margins of 19% to 20%. However, insiders say that the plans to shake up the alignment of the marketing department were hatched last year.
The goal is to de-layer the executive team and simplify its reporting structure, as well as trim costs. As part of that effort, Shelly Gillyard, vice president of U.S.
and Canada series marketing, and Jonathan Helfgot, vice president of U.S. and Canada film marketing, are both being promoted to co-lead Netflix’s U.S.
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