Netflix Laying Off Workers as Profits Slow Down

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Across the United States, times are tough for middle-class Americans. Families are currently at the center of a horrific baby formula shortage; this could end up taking anywhere from weeks to months to sort out.

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At the same time, the costs of living are rising as inflation remains ever-present in Americans’ lives. Sadly, the wages earned by the average middle-class worker are nowhere in the league of inflation.

As Amazon founder Jeff Bezos mentioned, inflation has the worst effects on Americans with the least affluence.

Unfortunately, the worst days of the economy may not be over. Multiple high-level economists believe a recession is on its way in about one year.

Meanwhile, 150 employees with Netflix have been laid off, amid the company’s struggles with profits and revenue.

Financial trouble with Netflix

Despite the popularity of online streaming services, Netflix lost a ton of subscribers during its first 2022 quarter. The company is reportedly planning to bring ads to its site as a means of offsetting financial losses.