If you’ve been trying to unsubscribe from more bad news surrounding streaming giant Netflix, it looks like you’ll have to wait after a new memo posted to the company’s website appears to encourage employees to spend less money.
The document, which is posted publicly under the website’s career section, outlines expectations for employees and 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.”
“The thing we most value is working with talented 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,” the memo 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 a class-action lawsuit on 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 2022 earnings report which 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.
This, coupled with a crackdown on password sharing and an increase in subscription prices, has led many to believe it’s the beginning of the end for the company.
Netflix was down just shy of 62% year over year as of Friday afternoon.