Netflix tells employees to spend company money ‘wisely’ after large subscriber losses

Streaming is huge Netflix Advises its employees to be very careful about how the company spends MoneyA new step Memo Published on the company’s website.

This order is in a note originally reported VarietyUnder the “Judgment” section entitled “Netflix Culture – Seeking Excellence”, encourages employees to “spend our members’ money wisely”.

In this photo chart, the Netflix logo will be displayed on the laptop screen and smartphone screen on October 13, 2020 in Thehata, West Bengal, India. (Photo chart by Soumyaprada Roy / Noorphoto / Getty Images)

The memo describes other company’s best practices such as selflessness, courage, communication, inclusion and more.

The memo comes later Netflix Suffered its first subscriber loss of more than a decade. According to its quarterly earnings report, the company’s customer base declined by 200,000 subscribers during the January-March period.

NETFLIX may include business news by the end of the year: Report

The company has been accused of increasing password sharing and competition among its members Streaming The place to create so-called “revenue growth headwinds”. Netflix estimates that in addition to its nearly 222 million paying families, the service is shared with an additional 100 million households, including 30 million in the United States and Canada.

Netflix CEO Reed Hastings

Netflix CEO Reed Hastings. (Getty Images / Getty Images)

Netflix has been accused of misleading investors prior to subscriber loss

Netflix announces plans to block password sharing and is cheaper, Ad support subscription layer. In addition, the company is Many animation projects are said to have been canceled And leave some employees in the department in an effort to cut costs.

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Netflix expects to lose another 2 million subscribers in the second quarter.

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Fox Business’ Lucas Manfredi contributed to this report.

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