After downsizing last year, Netflix will hire a flight attendant to work on one of the company’s private jets, with compensation rising to $385,000 (£313,538).
Netflix struggled to meet expectations in 2022, initially laying off 150 employees, including top executives, after missing first-quarter estimates by $62 million.
But a new role advertised on Netflix’s website promises compensation of up to $385,000 for a candidate who can carry up to 13kg, travel around the world for extended periods and stand for long periods.
According to Netflix, the right candidate for a senior flight attendant position in Northern California is someone who embraces Netflix’s culture of freedom and responsibility, working with little direction and lots of self-motivation.
The ad notes that the average pay for similar roles ranges from $60,000 to $385,000 per year.
Netflix is expected to do better in the final quarter of 2022, with Trefis estimating revenue at $8 billion — a 16% year-over-year increase.
Netflix is expected to have done well in late 2022, despite laying off staff over the summer
Hits like Stranger Things helped partially regain Netflix’s growth trend after a stagnant year
Netflix is hiring a flight attendant to serve as the main attendant on a super midsize jet, assisting with Gulfstream G550 jet trips as needed.
A new G550 jet will sell for up to $62 million. Super midsize jets can cost as little as $7-12 million.
The role includes briefing on safety and emergency procedures prior to each flight, assisting in the transportation of goods and baggage, and pre-inspecting emergency equipment in the cabin, galley and cockpit.
Netflix requires candidates to have FAA-certified flight safety training and flexibility to meet a varied schedule, including weekends and vacation periods.
Compensation of $385,000 is based on market margins and differs from a base salary.
Netflix has made company-wide changes over the past year to recover from flattening subscriber numbers.
The company reported 223.09 million subscribers in the third quarter of last year, slightly up from the 220.67 reported in the second quarter and slightly better than the 213.56 million reported in the third quarter of 2021.
In March of last year, Netflix’s 2017 tweet “Love shares a password” went viral after a decision was made to partially ban password sharing between users to encourage growth.
The company tested password sharing for users in the same home in Latin America and charged an additional $3 to $4 per month for a second home, but later scrapped the idea.
Hits like “Stranger Things” and “Monster: The Jeffrey Dahmer Story” last year helped the brand improve growth over the past year.
Netflix’s slump since the pandemic — which gave the company significant growth globally as non-users were stuck at the company — aligns with a broader trend of layoffs in the tech sector.
Netflix laid off 150 employees in May last year and rose to 300 in June after a period of stagnant growth
A report by Layoffs.fyi, which tracks tech company layoffs, showed that more than 150,000 employees had lost their jobs in a year.
The worst offenders, the site reported, were once-untouchable tech companies Facebook, parent company Meta and Amazon, both of which suffered heavy losses in 2022 and were mired in layoffs to salvage profits.
Netflix shares fell to a five-year low in mid-2022, but are up 60% over the past six months.
Layoffs in the tech sector have been exposed in a recent analysis by Layoffs.fyi, which tracks layoffs in real-time using information from media reports and company publications
Additionally, many smaller tech startups received inflated valuations during the pandemic, allowing them to receive additional funding and hire new employees.
This was more difficult to sustain as investors balked at an uncertain and complex market impacted by the war in Ukraine and a looming global recession.
Netflix aims to add 4.5 million subscribers in the fourth quarter of 2022, which Trefis says is a significant improvement from the 2.41 million reported in the third quarter.
Trefis notes that the final quarter of the year is often the weakest for Netflix due to higher marketing and content spending.
Operating margins are expected to hit around 4%, up from 8% a year ago.