Netflix Bloodbath Continues: 150 Laid Off as Hedge Funds Dump Stock

today05/17/2022 13

share close

Netflix Bloodbath Continues: 150 Laid Off as Hedge Funds Dump Stock

Via Breitbart:

The bloodbath at Netflix continued Tuesday as the far left-wing streamer laid off around 150 employees as part of its ongoing efforts to cut spending amid a catastrophic subscriber forecast for the months ahead.

Compounding the company’s woes, several hedge funds reportedly dumped Netflix shares ahead of the streamer’s recent first quarter earnings report, signaling a broader lack of confidence from Wall Street than previously known.

Netflix canned around 150 employees Tuesday, largely based in the U.S., with a significant portion in creative positions, both in film and TV, according to a report from Deadline.

“Our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly US-based,” a Netflix spokesperson said in a statement to Deadline.

“These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues. We’re working hard to support them through this very difficult transition.”

Netflix recently laid off staff in its animation department as well as its in-house fan site Tudum.

The cost cutting follows Netflix’s disastrous first-quarter report showing the streamer lost 200,000 subscribers and expects to lose a stunning 2 million more in the months ahead. Shares of Netflix plummeted nearly 40 percent following the news.

For the year, Netflix’s stock is down a whopping 68 percent.

Several hedge funds dumped their Netflix holdings prior to the earnings announcement, suggesting widespread pessimism toward the company on Wall Street, according to multiple reports.

Funds including Tiger Global Management, Winslow Capital Management, and Scopus Asset Management sold off the entirety of their Netflix shares.

As Breitbart News reported, hedge fund billionaire Bill Ackman recently dumped the 3.1 million shares of Netflix that his fund purchased just a few months ago, saying he has lost confidence in the ability to predict the streamer’s future prospects.

Adding to its problems, Netflix is now facing a shareholder lawsuit accusing executives of misleading the public about the company’s subscriber growth.


Our Readers And Listeners Keep Us In Print & On The Air!

The CRUSADE Channel, The Last LIVE! Radio Station Standing begins our LIVE programming day with our all original CRUSADE Channel News hosted by award winning,  25 year news veteran Janet Huxley. Followed by LIVE! From London, “The Early Show with Fiorella Nash & Friends. With the morning drive time beginning we bring out the heavy artillery The Mike Church Show! The longest running, continual, long form radio talk show in the world at the tender age of 30 years young!
Our broadcast day progresses into lunch, hang out with The Barrett Brief Show hosted by Rick Barrett “giving you the news of the day and the narrative that will follow”. Then Kennedy Hall and The Kennedy Profession drives your afternoon by “applying Natural Law to an unnatural world”! 
The CRUSADE Channel also features Reconquest with Brother André Marie, The Fiorella Files Book Review Show, The Frontlines With Joe & Joe and your favorite radio classics like Suspense! and CBS Radio Mystery Theater.

We’ve interviewed hundreds of guests, seen Brother Andre Marie notch his 200th broadcast of Reconquest; The Mike Church Show over 1500 episodes; launched an original LIVE! News Service; written and produced 4 Feature Length original dramas including The Last Confession of Sherlock Holmes and set sail on the coolest radio product ever, the 5 Minute Mysteries series!

Combined with our best in the business LIVE! Coverage of every major political/cultural event of the last 6 years including Brexit, Trump’s Election, Administration events, shampeachment, the CoronaDoom™, the 2020 Election and resulting Biden Regime’s Coup d;’tat, January 6th Psy-op and now the attempt to make Russia and Vladimir Putin out as the new Hitler and his Germany. “When News Breaks Out, We Break In!” because we truly are:
The Last, Live, Radio Station, Standing.

Now that you have discovered The Crusade, get30 days for FREE of our premium News-Talk Radio service just head to:

Did you know about Netflix Bloodbath?  If you are interested in supporting small business, be sure to check out the official store of the Crusade Channel, the Founders Tradin Post! Not to mention our amazing collection of DVD’s, Cigars, T-Shirts, bumper stickers and other unique selection of items selected by Mike Church!


Written by: LoneRhody

Post comments (0)

Notify of
Inline Feedbacks
View all comments

Would love your thoughts, please comment.x