In the past few months, there have been major cuts to the work of many tech companies. These cuts at companies like Microsoft, Amazon, Meta, Google and more, manifested as mass layoffs.
Now, the big tech and media company Netflix It also aims to reduce its spending, but this time we can see a difference. As reported by the Wall Street Journal, the streaming service giant will launch in 2023. wants to reduce spending by $300 million. Company executives told their employees in early May that they should be reasonable in their spending. But Netflix doesn’t want to make layoffs or even stop hiring to cut spending, at least for now.
One of the reasons Netflix wants to cut back on spending right now is that it’s postponing its controversial plans to charge subscribers in the US and other countries for sharing account passwords. These password sharing plans were originally scheduled to be available in the first quarter of 2023, but are now scheduled to be available in the second quarter ending June 30. Even now, Netflix has not yet specified a firm date for when the new password sharing fees will take effect and how much they will be.
Still, it might be worth reminding that even if Netflix is curbing some of its spending, this will be a small amount compared to its total spending of $26 billion in 2022. In addition, the company plans to release as many as 40 mobile games in 2023.
The company also has its own game development studios. One of them is working on a game described as an AAA multiplatform action-adventure game. Mainly in the Xbox division and released in 2021 Halo Infinite He recently left Microsoft after years of working on Joe States he is the creative director of this game…