Sweden-based streaming service Viaplay has begun issuing pink slips to workers around the globe, a move that could see the elimination of as many as 1,000 jobs.
In an email sent to employees this week, officials at Viaplay said the layoffs were necessary to “ensure that we invest in the areas where we see the greatest potential.” The job losses come about two weeks after Viaplay executed a corporate restructuring that saw Viaplay consolidate its operations into new groups, led by CEO Jørgen Madsen Lindemann.
Affected workers will receive around three months of severance. The majority of the layoffs are occurring outside Sweden, where Viaplay is headquartered, though a small number of domestic employees will also be affected, according to a person familiar with the matter.
Viaplay has been called the “Netflix of the Nords,” with a television and film library that rivals several of its peers. A version of Viaplay launched in North America earlier this year, with its content library focusing mostly on Nordic-based dramas and thrillers.
The restructuring announced in late June is intended to refocus Viaplay on growth opportunities in the markets where it is seeing the most success. It wasn’t clear if new markets like the United States and Canada will continue to be supported over the long-term.
