Netflix continues to find ways to downsize what looks like a bloated number departments, this time the cuts came in the form of 30 employees in its animation division, according to reports.
The streaming giant recently put new leadership in place over its Animation Film team by adding new vice presidents Karen Toliver and Traci Balthazor. And one of their first moves was to layoff an additional 30 employees, Deadline reported.
So far, no more project cancellations have been announced, though, as projects remain on track including Apollo 10 ½: A Space Age Childhood from Richard Linklater, Guillermo del Toro’s Pinocchio, an Aardman sequel to Chicken Run, and more.
NEW: Netflix Animation is laying off 30 staffers, or 2% of its animation studio, this morning. This comes after 450+ layoffs earlier this year. $NFLX https://t.co/zZJaa41PAK
— Elaine Low (@elainelow) September 14, 2022
However, a list of animated series and specials had already been called off in previous cost-cutting measures, including the proposed animated series by Meghan Markle and Prince Harry that had been greenlighted, as well as Dino Daycare from executive producer Chris Nee, and the adventure series Boons and Curses.
The top streaming service has faced a serious downturn this year. It reported that it lost 200,000 subscribers during the first quarter this year. Netflix expects to lose a staggering 2 million more before 2022 is over and morale is reportedly low.
Netflix has already engaged in multiple rounds of layoffs and also cut down on staffers at its in-house fan site Tudum only five months after launching the division.
In May, it was reported that Netflix was the S&P 500’s worst performing stock. That same month, the company’s shares fell seven percent on the news of more bad subscriber data.
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