Unsubscribe from Spending: Netflix Tells Employees to 'Spend Our Members' Money Wisely'A new memo posted to the company's website has many raising their brows.
ByEmily Rella•
If you've been trying tounsubscribefrom more bad news surrounding streaming giantNetflix, it looks like you'll have to wait after anew memoposted to the company's website appears to encourage employees tospend lessmoney.
The document, which is posted publicly under the website's career section, outlinesexpectations for employeesand sets the precedent for the work culture that Netflix hopes to cultivate.
This is not uncommon for companies to outline, especially in the tech world.
But it's the section labeled "Judgment" under "Valued Behaviors" that has many scratching their heads in confusion.
There are five bulleted behaviors under the section, the fourth one stating "you spend our members' money wisely."
Related:What's Going on With Netflix? Everything You Need to Know About the Company's Massive Fall
“我们最有价值的东西是有才华的工作people in highly creative and productive ways. That's why our core philosophy is people over process, and why we try to bring great people together as a dream team," thememo states. "Of course, any growing business requires some process and structure. But with our people-first approach, we can be more flexible, creative and successful in everything we do."
Netflix did not publicly comment or clarify on the new addendum to its culture memo.
The company has been on a downward spiral in recent weeks, most recently being slammed with aclass-action lawsuiton behalf of shareholders that claimed the company made "false and/or misleading" statements about its business, prospects and financial results before they invested.
This followed Netflix's Q1 2022earnings reportwhich sent the company plummeting an estimated $50 billion in valuation after losing 200,000 subscribers in that quarter, its biggest drop in more than a decade.
Related:Netflix Loses Subscribers For First Time In A Decade
This, coupled with acrackdown on password sharingand anincrease in subscription prices, has led many to believe it's the beginning of the end for the company.
Netflixwas downjust shy of 62% year over year as of Friday afternoon.