DRM Giant Announces Giant Layoffs (Netflix’s Debt is Huge)
Netflix’s debt is somewhere near a million dollars per worker, based on the "official figures" (sometimes the real figures are even higher)!
Netflix’s business may be unsustainable. Charge too much? Customers leave. Lower the cost customers pay? Well, hardware is very expensive right now. So you lose more money and debt surges.
Is the era of 'cheap' DRM ending? Should people go back to collecting movies and making "offline" collections?
The "6%" figure shown below is probably lower than the real figure, but the media these days is operating in "parrot mode" ("it's like they've mostly stopped doing reporting," as an associate puts it):
- Netflix Layoffs Underway, Streamer Cutting 1,000 Jobs, 6% Of Workforce
- Netflix lays off about 1,000 employees, 6% of workforce
- Netflix announces its biggest layoffs to date, to fire 6% employees. Read the full letter of co-CEOs to staff
- Netflix layoffs: Company cuts 1,000 jobs; CEOs Greg Peters and Ted Sarandos tell employees
It's hardly the first time. They shrink all the time. The more people they sack, the higher the debt/worker ratio will go.
How does this company intend to pay back the debt and interest on the debt? It's not like operational costs are decreasing, they're climbing fast. █