Netflix Reorganizes Marketing Team as Layoffs Hit Department
Netflix 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%.