$Netflix(NFLX)$ If they are losing their jobs, they will have to look for another job and spend time to upgrade their skills. Will they spend their precious time to watch Netlix and continuing being jobless? If they are jobless for a long period of time, they also do not have money to pay for subsciptions. They will cut down Netflix so that they will not spend time and money in the things that they don't need right now.
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