Popular Company CRUMBLES – Goes Into “Crisis” Mode
(LibertySociety.com) – In the wake of Netflix tightening restrictions for customers, cutting creative budgets, and other moves, the company’s stock continues to freefall, and subscribers decreased to an all-time low. The streaming giant recently reported its first-quarter earnings, which were lower than expected. The shock pulled the stock value down 43%, totaling a drop of over 66% since the beginning of 2022.
Not only are big investors like Bill Ackman dumping their shares at a loss, but the company also has a morale problem among its employees. People who work for the company are reportedly losing faith in Netflix’s long-term outlook. The once top-streaming service is now sitting on shaky ground.
Following the loss of around 200,000 subscribers, #Netflix emerged as the worst-performing member of the S&P 500 this year to date.
How can the streaming giant compete with the real world? (Via @bopinion)
👉 https://t.co/uJkurQTleO pic.twitter.com/UjtyAqNa9P
— BloombergQuint (@bloombergquint) April 27, 2022
Getting a job with Netflix used to be a highly sought-after goal in America due to the pay and the perks of working there. Unfortunately, the company’s recent losses in value and recent cuts negatively affected employee perks as well. In fact, reports show the recent stock drop eliminated employee stock options that were given to the staff when the company was doing well in 2018.
Netflix faces a huge challenge dealing with its own issues while trying to stay ahead of other competitive streaming services like Disney+, HBO Max, and Hulu.
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