Netflix employee morale drops after subscriber loss

Following a record decline in its stock price, confidence among Netflix employees is allegedly faltering as staff question the firm’s long-term trajectory.

In a time where talent is more competitive then ever, while the ‘great resignation’ continues to heat up, the company could face losing some of its most valuable team members.

It comes after Netflix’s stock decreased by 35% after the business announced a significant drop in subscribers, adding warnings that millions are expected to ditch the streaming service in the future, reported iTech Post.

Netflix’s latest earnings report revealed that its customer base decreased by 200,000 subscribers during the period from January to March.

This decline marks the lowest level in five years for the business, which could spark a mass turnover in staff numbers.

This is despite the firm often being regarded as one of the best tech companies to work for, for example it secured the top spot in Hired’s 2018 survey of tech workers ranking the companies they’d most like to work for.

Meanwhile, its several employee benefits, such as parental leave, unlimited annual leave, fertility, surrogacy and adoption support, rideshare services, relocation benefits and more, have helped to attract and retain talent.

However, in the last week current and former Netflix workers have shared that there are now more people who want to leave the company than at any other time in recent memory.

An additional report form Bloomberg shared that employees at the streaming giant have requested that the business’ leadership issue new stock grants to compensate them for the losses they have suffered recently too.

A dip in subscribers has been attributed to Netflix rolling out significant changes to the platform and company, including an increase in subscription prices.

Before this was introduced, Netflix also started to clamp down on users sharing their passwords with non-paying members, as the firm estimated that more than 100 million non-paying households watch the service this way.

In addition, Netflix stated that the company is losing customers to its competitors as well.

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