Netflix Inc. NFLX, which is scheduled to report its quarterly results on Thursday after the close, raised quite a few eyebrows by posting a job listing for a flight attendant with a hefty package.
What Happened: Netflix is seeking to hire a Northern California-based flight attendant, who can operate with “little direction and a lot of self-motivation," a job posting on its website stated. The candidate is also expected to demonstrate independent judgment, discretion and outstanding customer service skills to provide a seamless experience for its passengers.
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The selected candidate would be based out of San Jose, California, and will be the primary flight attendant on a super-midsize jet, vested with the responsibility of maintaining and provisioning the SJC stockroom.
The pay on offer stood out, with Netflix mentioning that the overall range for this role is typically between $60,000 and $385,000. The market range is based on total compensation versus only base salary, it clarified.
Why It’s Important: The tech industry is amid a job-cutting spree as a lack of topline growth and revenue declines have forced companies to turn to cost cuts in order to preserve margins and grow profits.
On Wednesday, Microsoft Corp. MSFT confirmed in an 8-K filing with the SEC that it is implementing a series of actions in response to macroeconomic conditions and changing customer priorities. These actions included the elimination of 10,000 jobs. Amazon Inc. AMZN has announced another round of mass layoffs, totaling about 18,000 jobs.
Ironically, Netflix disclosed two rounds of job cuts in the first half of 2022, totaling roughly 520 jobs, after reporting a big loss in net paid subscriber additions.
Analysts, on average, estimate that Netflix may have earned 44 cents per share on revenue of $7.84 billion for the fourth quarter. This compares to the year-ago numbers of $1.33 and $7.71, respectively.
Price Action: Netflix’s shares, which have outperformed the broader tech sector since the middle of last year, ended Wednesday’s session little changed at $326.33, according to Benzinga Pro data.
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