Netflix is preparing for yet another wave of layoffs as the streaming platform continues to grapple with plummeting stock values and tanking subscriber numbers.
The Los Gatos, California-based streaming giant, which employs 11,000 staffers, is expected to notify those impacted by layoffs at the end of the week, Variety first reported.
It comes on the heels of a previous downsizing at the company prompted by the company losing 70 percent of its stock value since the spring.
Last month, Netflix laid off a total of 150 full-time employees and another 70 workers at it’s animation studios.
Another 60 or 70 contactors were also let go.
Many of those losing their jobs worked on series and initiatives aligned with social justice causes.
The streaming platform shed 200,000 subscribers in the…
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