Netflix cuts 150 jobs as subscribers continue to leave

May 18 2022

Netflix will be cutting 150 jobs as the streaming giant seeks to reduce its costs and address the forecast that it will lose millions of subscribers in the first half of the year.

The expected cuts are mostly focused on its US operations, letting go several employees in the film and TV divisions.

This comes as Netflix’s market value experiences a slash of almost $60bn as investors forecast that the boom Netflix experienced for a decade is coming to an end. As of December, Netflix had around 11,300 full time employees.

This means that the cutting off of 150 jobs represents 1.3% of its global workforce. Last month, 25 employees from the marketing sectors were laid off. These included contractors who were there less than a year.

This also comes as Netflix tries to focus on a ‘less is more’ strategy. This means fewer but higher quality commissions of series and films. It is estimated to be spending $17bn on making and licensing content this year.

It intends to start cracking down on widespread password-sharing among its 221 million global subscribers. It also plans on introducing adverts for those who would opt for lower payments.

#MaltaDaily

Finland and Sweden’s applications to join NATO submitted

May 18 2022

Finland and Sweden have officially handed in their applications to join NATO, the US-led alliance, after the Russian invasion of Ukraine rose concerns and put an end to their neutrality.

NATO chief Jens Stoltenberg said that the applications the countries made are a historic step. ‘Allies will now consider the next steps on your path to NATO’.

This comes despite warnings from Russia, with President Vladimir Putin warning that the move may trigger a response from Moscow. The applications face resistance from NATO member Turkey, which threatened to block them over accusations that the Nordic neighbours act as safe havens armed groups opposed to Ankara.

Stoltenberg said that the security interests of all allies have to be taken into account. ‘All allies agree on the importance of NATO enlargement. We all agree that we must stand together and we all agree that this is a historic moment which we must seize’ he said.

Several NATO allies offered security assurances to Finland and Sweden during the application period before they are covered by the alliance’s mutual defence pact.

#MaltaDaily

538 domestic violence cases reported to police in first four months of 2022

May 18 2022

Malta’s police have received 538 reports of domestic violence in just the first four months of 2022. The statistics were revealed by Home Affairs Minister Byron Camilleri in response to a question by PN MP Paula Mifsud Bonnici.

The localities with the highest reports so far this year were St Paul’s Bay, at the top with 29 cases, Zabbar at 24 and Zejtun at 23. More recent figures also show that over 96% of domestic violence court cases in Malta fail to result in conviction.

Looking back to the entirety of 2021, police received 1,741 reports. St Paul’s Bay and Zabbar were once again at the top of that list.

More reports do not however translate into a direct explanation as to what is going on as a whole due to many victims living in silence and not reporting. The increase in reports also indicates more awareness about such cases, prompting the reports.

#MaltaDaily

Over 88,000 Maltese went abroad between January and March 2022

May 18 2022

As the tourism sector experiences a revitalisation following two years of COVID-19 related restrictions, the first three months of 2022 registered a substantial number of Maltese travellers.

In fact, according to digits provided by the National Statistics Office, over 88,000 Maltese people travelled in this first quarter.

It was also revealed that, in total, around 654,000 nights were spent abroad away from the Maltese islands. Italy was the most popular destination amongst Maltese travellers, with the UK following close behind.

The NSO statistics show that travelling suffered a major hit during the pandemic. However, an upward trend is being noted as many take to the airport. The collective spending of Maltese travellers reached up to €69 million.

This is approximately €782 per head. Back in April of this year, tourism minister Clayton Bartolo revealed that 80% of Malta’s pre-pandemic travel routes had recovered due to the easing of measures.

The removal of all countries from red or dark red lists also impacted the drive for the Maltese to travel, whilst also stimulating an income of international visitors as many feel more comfortable to once again satisfy their wanderlust safely.

#MaltaDaily

Photo source: Rene Rossignaud (MIA)