Netflix hiring freeze?
I was talking to a recruiter about a SDE position who has suddenly gone AWOL. Do they have a hiring freeze? Any ideas? #netflix
I thought they are benefiting from Coronavirus
Netflix depends on bond issuance for all of their new programming and that market is a mess right now. Going to have higher interest expense going forward in addition to competition from the other streamers. While I like the company and they run pretty lean as far as tech companies go, it is going to be tough for them to maintain those salaries in this environment.
Interesting. Didnโt know they are in bonds business. Does that mean they will lay-off later as well
Everybody can WFH, not the productions. We can't really spend that money even if we want to. Our debt is nothing compared to our market cap. And you know nothing about bonds. High yield bond is in a mess, Netflix's is still as tight as ever. If anything, Netflix will be able to borrow at a lower rate after the fed cut.
Leadership says the primary reason for the current hiring slowdown is that we cannot provide the level of onboarding (quality and comfort) that anyone would like... who would want to join and have to read docs by themselves all day anyways?
They do