Netflix lays off Black women as stock price plunges, Meghan Markle’s series canceled


By Sandra Rose

Pool / Getty Images

Netflix laid off dozens of employees, including nearly the entire staff of Black, Latina and Asian women at internal fan blog, Tadum.

The move came after Netflix reported disappointing first quarter earnings and a loss of over 200,000 subscribers.

Netflix’s stock price cratered from a high of $ 700 a share a year ago to a low of $ 185 per share last week.

Former Netflix employees took it Twitter.com last week to complain about the company’s broken promises.

One former staffer tweeted:

“still processing that netflix recruited me from my union job of SIX YEARS … with the promise of new opportunities and a diverse team, only to lay me off months later with TWO WEEKS severance …”

Another former employee wrote:

“Uh oh! Looks like I have to do this tweet again. Is anyone hiring? Netflix just laid off my team (my job included). It’s been an incredible few months and I’m grateful for it but I’m stoked about whatever’s next. Email is in bio. “

In addition to shedding employees, Netflix canceled nearly all of its animated series, including Meghan Markle‚Äôs animated series “Pearl”.

“Pearl” is among several animation projects that were cut.

One show to survive the chopping block is a documentary nature series narrated by former President Barack Obama.

Netflix announced a multiyear deal with Barack and Michelle Obama to create original content for the streaming service last year.

Posted in Business

Tags: Black unemployment, business news, job lay offs, Meghan Markle, Netflix, stock market





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