Streaming giant Netflix has laid off 300 employees, according to Variety. The publication reported that the streamer fired off staffers across multiple departments. This follows the first round of layoffs last month, in which the company had fired 150 employees, contractors, or part-time workers, about 2 per cent of its workforce in the United States.

Netflix may be a world leader in the streaming space, but it is also beset with financial troubles. In April, it reported a loss of 200,000 subscribers in the first quarter of the year when it was expected to gain 2.5 million subscribers.&nbsp;

It was all well for the company when it was the undisputed leader. But now newer players like Disney+ and HBO Max, backed by big studios and legacy content, are making inroads and eating into Netflix's share.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-the-black-phone-review-ethan-hawke-owns-the-screen-in-this-absorbing-frightening-horror-thriller-491211">'The Black Phone' review: Ethan Hawke owns the screen in this absorbing, frightening horror thriller</a>

On Thursday, Co-CEO Ted Sarandos confirmed that the streaming service will add a cheaper, advertisement-supported plan. While &nbsp;speaking on the Cannes Lions stage (quoted by The Hollywood Reporter), he said, "We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising. We adding an ad tier; we’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads.'”

Over the years, Netflix has delivered a lot of quality content in terms of movies, TV shows, and documentaries. It has also managed to lure in prestige filmmakers like Martin Scorsese ('The Irishman'), Jane Campion ('The Power of the Dog'), Alfonso Cuarón ('Roma'), Guillermo del Toro (upcoming 'Pinocchio'), Coen Brothers (The Ballad of Buster Scruggs), and so on.&nbsp;

Many TV series produced or backed by Netflix, including 'Money Heist', 'Black Mirror', 'Sex Education', 'Stranger Things', 'The Witcher' and more recently, ‘Squid Game’, have turned into global phenomenon.

Now, it appears the strategy of the company is undergoing a radical shift and there may be a shift in the kind of content that appears on our screens when we login to Netflix.

Streaming giant Netflix has laid off 300 employees, according to Variety. The publication reported that the streamer fired off staffers across multiple departments.

Streaming giant Netflix has laid off 300 employees, according to Variety. The publication reported that the streamer fired off staffers across multiple departments. This follows the first round of layoffs last month, in which the company had fired 150 employees, contractors, or part-time workers, about 2 per cent of its workforce in the United States. Netflix may be a world leader in the streaming space, but it is also beset with financial troubles. In April, it reported a loss of 200,000 subscribers in the first quarter of the year when it was expected to gain 2.5 million subscribers. It was all well for the company when it was the undisputed leader. But now newer players like Disney+ and HBO Max, backed by big studios and legacy content, are making inroads and eating into Netflix's share. Also Read: 'The Black Phone' review: Ethan Hawke owns the screen in this absorbing, frightening horror thriller On Thursday, Co-CEO Ted Sarandos confirmed that the streaming service will add a cheaper, advertisement-supported plan. While speaking on the Cannes Lions stage (quoted by The Hollywood Reporter), he said, "We’ve left a big customer segment off the table, which is people who say: ‘Hey, Netflix is too expensive for me and I don’t mind advertising. We adding an ad tier; we’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say, ‘Hey, I want a lower price and I’ll watch ads.'” Over the years, Netflix has delivered a lot of quality content in terms of movies, TV shows, and documentaries. It has also managed to lure in prestige filmmakers like Martin Scorsese ('The Irishman'), Jane Campion ('The Power of the Dog'), Alfonso Cuarón ('Roma'), Guillermo del Toro (upcoming 'Pinocchio'), Coen Brothers (The Ballad of Buster Scruggs), and so on. Many TV series produced or backed by Netflix, including 'Money Heist', 'Black Mirror', 'Sex Education', 'Stranger Things', 'The Witcher' and more recently, ‘Squid Game’, have turned into global phenomenon. Now, it appears the strategy of the company is undergoing a radical shift and there may be a shift in the kind of content that appears on our screens when we login to Netflix.

Netflix fires off 300 employees in latest round of layoffs amid financial troubles

Netflix fires 300 employees in latest round of layoffs amid financial troubles

After Beijing introduced new rules on the country's private education industry, the largest private education provider,&nbsp;New Oriental Education&nbsp;fired nearly 60,000 workers last year.&nbsp;

Yu Minhong, the founder of New Oriental Education,&nbsp;which is known for its after-school tutoring services, confirmed the news in a post on his WeChat account. He said that the company encountered "too many changes in 2021," as he blamed the layoffs on "policies, the pandemic and international relations."&nbsp;

The post further mentioned that the company saw revenue fall by 80 per cent after ending all K-9 tutoring services. In another post, he said that even after the massive layoffs, the company still has about 50,000 employees and teachers.

<a href="https://www.wionews.com/world/cypriot-scientist-refutes-speculations-around-deltacron-variant-says-it-is-not-lab-contamination-443595">Also read |&nbsp;Cypriot scientist refutes speculations around 'Deltacron' variant, says it is not 'lab contamination'</a>

Yu wrote, "In 2021, New Oriental encountered too many unforeseen events from factors such as policy, the pandemic, and international relations. Much of our business remains in a state of uncertainty.”

As per the latest annual report, New Oriental,&nbsp;had over 88,000 full time employees and 17,000 teachers and staff as of May. It is not yet clear if the contract workers were among the 60,000 people who have been fired.&nbsp;

Last year, the company spent $3.1 billion in refunding prepaid tuition to customers. This was done to compensate the employees that were laid off. New Oriental lost some $28 billion in market value last year.&nbsp;

(With inputs from agencies)

After Beijing introduced new rules on the country's private education industry, the largest private education provider, New Oriental Education fired nearly 60,000 workers last year.

After Beijing introduced new rules on the country's private education industry, the largest private education provider, New Oriental Education fired nearly 60,000 workers last year. Yu Minhong, the founder of New Oriental Education, which is known for its after-school tutoring services, confirmed the news in a post on his WeChat account. He said that the company encountered "too many changes in 2021," as he blamed the layoffs on "policies, the pandemic and international relations." The post further mentioned that the company saw revenue fall by 80 per cent after ending all K-9 tutoring services. In another post, he said that even after the massive layoffs, the company still has about 50,000 employees and teachers. Also read | Cypriot scientist refutes speculations around 'Deltacron' variant, says it is not 'lab contamination' Yu wrote, "In 2021, New Oriental encountered too many unforeseen events from factors such as policy, the pandemic, and international relations. Much of our business remains in a state of uncertainty.” As per the latest annual report, New Oriental, had over 88,000 full time employees and 17,000 teachers and staff as of May. It is not yet clear if the contract workers were among the 60,000 people who have been fired. Last year, the company spent $3.1 billion in refunding prepaid tuition to customers. This was done to compensate the employees that were laid off. New Oriental lost some $28 billion in market value last year. (With inputs from agencies)

In a massive layoff, Chinese EdTech giant fired nearly 60,000 workers

<a href="https://www.wionews.com/business-economy/general-motors-workers-begin-nationwide-strike-in-us-249987">General Motors</a> has laid off 6,000 workers in Mexico temporarily due to a US labour strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday.

The layoffs affect the Silao assembly and transmission plants in central Mexico, where work has been "disrupted as a result of a parts shortage related to the UAW strike," a GM spokesman said.

The Silao workers are expected to return to their jobs after the strike, the spokesman said.

GM's Mexican arm notified workers at the Silao assembly plant that they had been placed on indefinite, mandatory vacation and would receive 55 per cent of their pay, according to an internal document obtained by AFP.

However, the company emphasized that no one was permanently laid off.

"There are no layoffs for the moment, we&nbsp;are evaluating the situation day to day and hope to restore normal operations soon, in a matter of days," spokeswoman Teresa Cid told AFP.

The two plants in Silao, Guanajuato state, produce GMC and Chevrolet pickup trucks.

The moves come on top of the furlough of more than 3,000 workers in Canada and at an Ohio plant where GM operates a joint venture with Isuzu to make diesel engines.

Nearly 50,000 US workers are on strike at <a href="https://www.wionews.com/world/gm-recalls-35-mn-vehicles-on-brake-issue-249068">GM</a>&nbsp;due to a United Auto Workers conflict over the labour contract, now in its third week.

Workers launched the strike on September 16 after contract talks failed to yield an agreement on wages, health benefits, temporary workers and job security.

The strike also comes against the backdrop of GM's decision last November to effectively shutter five plants in North America.

A report Tuesday from JPMorgan Chase estimated that the strike has so far cost GM $1 billion, adding that the company has the potential to recover some of the lost profits in the fourth quarter if the strike ends soon.

General Motors has laid off 6,000 workers in Mexico temporarily due to a US labour strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday.

General Motors has laid off 6,000 workers in Mexico temporarily due to a US labour strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday. The layoffs affect the Silao assembly and transmission plants in central Mexico, where work has been "disrupted as a result of a parts shortage related to the UAW strike," a GM spokesman said. The Silao workers are expected to return to their jobs after the strike, the spokesman said. GM's Mexican arm notified workers at the Silao assembly plant that they had been placed on indefinite, mandatory vacation and would receive 55 per cent of their pay, according to an internal document obtained by AFP. However, the company emphasized that no one was permanently laid off. "There are no layoffs for the moment, we are evaluating the situation day to day and hope to restore normal operations soon, in a matter of days," spokeswoman Teresa Cid told AFP. The two plants in Silao, Guanajuato state, produce GMC and Chevrolet pickup trucks. The moves come on top of the furlough of more than 3,000 workers in Canada and at an Ohio plant where GM operates a joint venture with Isuzu to make diesel engines. Nearly 50,000 US workers are on strike at GM due to a United Auto Workers conflict over the labour contract, now in its third week. Workers launched the strike on September 16 after contract talks failed to yield an agreement on wages, health benefits, temporary workers and job security. The strike also comes against the backdrop of GM's decision last November to effectively shutter five plants in North America. A report Tuesday from JPMorgan Chase estimated that the strike has so far cost GM $1 billion, adding that the company has the potential to recover some of the lost profits in the fourth quarter if the strike ends soon.

General Motors temporarily lays off 6,000 workers in Mexico due to strike

Indian software trade body Nasscom dismissed widespread media reports of mass layoffs in the country&#39;s hugely important information technology industry but warned that the sector must reinvent itself.

IT outsourcing has long been one of India&#39;s flagship industries but recent news reports have claimed that major companies, including Tech Mahindra and Wipro, are making thousands redundant due to increased automation.

&quot;The numbers being reported across different sources are incorrect and are not in line with the actual employment progression,&quot; the National Association of Software and Services Companies said in a press release on Thursday.

&quot;The industry continues to be a net hirer with talent acquisition continuing across sectors and remains one of the largest employers of the nation,&quot; it added in the statement following a conference in New Delhi.

Several Indian newspapers, including respected business dailies like The Economic Times and Mint, have reported major IT firms are in the process of gradually laying off thousands of staff, although the companies themselves are yet to comment on numbers.

Nasscom claimed that 1,70,000 new jobs had been created in the recently ended financial year and predicted that up to three million new positions would be added by 2025, but conceded that there was a slowdown in the rate of hiring.

It also called for employees to learn new skills to help companies&#39; keep up with demands for newer and more innovative technologies.

&quot;Going forward the focus for companies will be on skills and proficiency levels rather than scale, hence it is becoming imperative for employees (both current and potential) to skill themselves in domain specific requirements,&quot; it said.

Nasscom says that the IT outsourcing industry employs nearly four million Indians and saw revenues of around $154 billion.

India has been popularly termed as the &quot;back office&quot; to the world as companies, largely in developed nations, subcontracted work to Indian firms, taking advantage of the country&#39;s skilled English-speaking workforce.&nbsp;

But there are concerns it is losing its sheen as companies move towards automation and seek newer technologies while there are also fears over US President Donald Trump&#39;s curbs on H-1B visas, which allow aspiring Indian engineers to work in America.

(PTI)

Nasscom claimed that 1,70,000 new jobs had been created in the recently ended financial year and predicted that up to three million new positions would be added by 2025

Indian software trade body Nasscom dismissed widespread media reports of mass layoffs in the country's hugely important information technology industry but warned that the sector must reinvent itself. IT outsourcing has long been one of India's flagship industries but recent news reports have claimed that major companies, including Tech Mahindra and Wipro, are making thousands redundant due to increased automation. "The numbers being reported across different sources are incorrect and are not in line with the actual employment progression," the National Association of Software and Services Companies said in a press release on Thursday. "The industry continues to be a net hirer with talent acquisition continuing across sectors and remains one of the largest employers of the nation," it added in the statement following a conference in New Delhi. Several Indian newspapers, including respected business dailies like The Economic Times and Mint, have reported major IT firms are in the process of gradually laying off thousands of staff, although the companies themselves are yet to comment on numbers. Nasscom claimed that 1,70,000 new jobs had been created in the recently ended financial year and predicted that up to three million new positions would be added by 2025, but conceded that there was a slowdown in the rate of hiring. It also called for employees to learn new skills to help companies' keep up with demands for newer and more innovative technologies. "Going forward the focus for companies will be on skills and proficiency levels rather than scale, hence it is becoming imperative for employees (both current and potential) to skill themselves in domain specific requirements," it said. Nasscom says that the IT outsourcing industry employs nearly four million Indians and saw revenues of around $154 billion. India has been popularly termed as the "back office" to the world as companies, largely in developed nations, subcontracted work to Indian firms, taking advantage of the country's skilled English-speaking workforce. But there are concerns it is losing its sheen as companies move towards automation and seek newer technologies while there are also fears over US President Donald Trump's curbs on H-1B visas, which allow aspiring Indian engineers to work in America. (PTI)

India's IT industry body Nasscom dismisses mass layoff reports

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