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Netflix Adds “Spend Our Members’ Money Wisely” To Corporate Culture Memo

Netflix Adds "Spend Our Members' Money Wisely" To Corporate Culture Memo

Faced with a sharp drop in the stock price and pending lawsuits from some investors, Netflix has added specific language for them corporate culture memo For employees who specifically mention “spend our members’ money wisely”. variety The streamer’s culture page on its job site was the first to report about the addition, revealing that there were also several other changes, additions, and excises to the language of the page. Specific mention of spending money wisely comes under their “Valued Behavior” section, which includes a sub-section called “Decisions.” In addition to “You spend our members’ money wisely”, this also includes:

  • You Make Wise Decisions Despite Ambiguity
  • You use data to inform your intuition and choices
  • You look beyond symptoms to identify systemic issues
  • You mostly make decisions based on their near-term impact rather than their long-term impact.

variety notes that they cut out a section from the memo that previously read “If our company experiences financial hardship, we will not ask our employees to accept a lower salary… on the other hand, if the company does well.” If so, our widely distributed stock options become significantly more valuable.” Earlier this year, upon revealing that the company had lost 200k users against a forecast of 2.5 million additional (the negative amount of paid users was due to the service shutdown in Russia, resulting in the loss of 700k paid subscribers) happened), this resulted in the stock price of Netflix falling 21% from $348.61 to $226.19. It has since dropped even lower, hovering between $160 and $180 as of this writing. Netflix is ​​facing a potential class action lawsuit for a steep drop in stock prices, the crux of the legal argument being that the streamer made misleading and false statements, particularly regarding slow growth in paid subscribers. in.

As noted by the trade, Netflix has also added a section specifically labeled “Artistic Expression”, which notes: “Not everyone will like or agree on everything on our service. Every title is different though.” , we approach them based on the same set of principles: we support the artistic expression of the creators we choose to work with; we program for a diversity of audiences and tastes; and we encourage audiences to Let Netflix censor what is appropriate for them rather than specific cast or voices. The section concludes that Netflix employees who “find it difficult to support the breadth of our content” should realize that for them The streamer “might not be the best place”.

The language comes as the streamer faced criticism from viewers and staff for how it handled the original stand-up special starring Dave Chappelle. The controversial special material featured material called transphobic and homophobic by many, but Netflix and co-CEO Ted Sarandos rallied around Chappell at the time and have since collaborated with him on several additional specials.

The Netflix memo concludes that the company’s “cultural excellence drives our business excellence, which drives member satisfaction and in turn drives our long-term growth and stock price. This is how we create an extraordinary way of entertaining the world.” build a successful company.”

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Reference from comicbook.com

Drashti Jain