Netflix Facing Another Round of Layoffs: Report

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Netflix Facing Another Round of Layoffs: Report

Netflix could have another round of layoffs as early as this week, according to Variety.

The streaming giant, which has seen its stock price plummet more than 70% this year, already cut 150 positions across its organization in May. The upcoming layoffs could be similar in size, with impacted employees expected to be informed at the end of this week, Variety reported Monday.


Netflix shares have cratered since the streaming platform reported in April that it lost 200,000 subscribers during the first quarter—the first time that the company shed customers in more than a decade—and expects to shed another 2 million subscribers in the current second quarter. The streamer has blamed heightened competition, password sharing and Russia’s invasion of Ukraine, among other issues, for the loss in customers.

On Netflix’s first-quarter earnings call, CFO Spencer Neumann said that amid slowing revenue growth, the company will look to “protect our operating margins” over the next two years by “pulling back on some of our spend growth across both content and non-content spend.” Netflix began cutting costs a few weeks later, laying off about 25 people in its marketing division, including at its editorial website Tudum.

Although Netflix is navigating unique problems, it is far from the only tech firm that has slashed staff in recent weeks amid increasingly precarious economic conditions.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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Body Complete Rx Founder Samia Gore On How She Turned Her Fitness Journey Into a Multi-Million Dollar Company

Yasmin Nouri

Yasmin is the host of the "Behind Her Empire" podcast, focused on highlighting self-made women leaders and entrepreneurs and how they tackle their career, money, family and life.

Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.

Body Complete Rx Founder Samia Gore
Courtesy of Behind Her Empire, Samia Gore

Samia Gore was a mother of four when she decided to take a shot at starting her own business.

On this episode of the Behind Her Empire podcast, the Body Complete Rx founder discusses how her personal journey with health and fitness became the catalyst for a booming business.

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