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Netflix dismisses content head and lays off 1,000 employees

The Motley Fool +1 ·

NFLX Netflix Inc
$65.85 -1.79%
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  1. 1Netflix dismissed its head of content and head of film and laid off 1,000 employees this week.
  2. 2Netflix's operating margin expansion in the third quarter recorded 28.2% to 34.6%.
  3. 3Management slightly lowered the annual guidance to a 13% increase due to delays in the launch of advertising products.

So what's the key point?

Netflix has removed the executives in charge of content and film and let go of 1,000 employees. The company slightly lowered its expected profit growth for this year to 13% because the launch of its advertising service was delayed.

Source The Motley Fool +1 · View original ↗

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