Comixology news8/31/2023 ![]() What is clear, however, is that neither ComiXology nor Netflix was cashflow positive enough to stand up to economic pressure, despite the fact that both services were once considered the default digital app in their respective industries. Netflix officials didn’t provide as many specifics about the external factors surrounding the decision, but they were clear that subscriber growth and revenue weren’t keeping up with costs. Netflix had warned investors in April that it would be pulling back on some of its spending growth over the next two years.” Netflix lays off 300 more employees as revenue growth slows –, June 23, 2022.The cuts come about a month after the streaming company eliminated about 150 positions in the wake of its first subscriber loss in a decade.Netflix is laying off around 300 employees across the company, CNBC confirmed Thursday.What’s interesting about this news is the familiar parallels from recent announcements related to Netflix, the default streaming service up until the last year or so. You’re not delivering a physical product, and developers can work from home as readily as they can from the office. It’s anyone’s guess how accurate that explanation really is, but citing “COVID” and “supply chain delays” for a digital application immediately raises red flags. In other words, Amazon (owner of ComiXology) cited a number of external factors that led to the decision. ![]() Let’s take a look at the facts, courtesy of Publisher’s Weekly.Īs part of Amazon’s plan to cut 18,000 positions, an number of Comixology staffers were laid off on Wednesday, January 18… A mix of supply chain delays, inflation and labor shortages caused by the Covid-19 pandemic has been rough on the company’s store operations, the memo cited.” Amazon Layoffs Hit Comixology Staff – Publisher’s Weekly, Jan.
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