After a round of layoffs during the tech bust in the early 00s, the Netflix staff discovered that they were much more efficient and productive, and that their staff enjoyed their jobs a lot more, since the people left were those needed, of the best ability, and the most highly skilled. They used this to form a corporate culture where they view their corporation as a team not  a family, anyone not necessary is let go, hard work is irrelevant, and you are only judged on the work products.

This has led to events like their tech staff leaving when the company switched to streaming movies because, even though they were top notch and had brought the company to that point, and could in fact build a solution for the growing demand and capacity, they couldn't do it in 9 months and Amazon could. NPR's Planet Money did an interview with ex head of HR who espouses this philosophy for corporations. She herself was let go after the backlash over the Netflix subscription price increase a few years ago, and the move to producing entertainment. Since this new focus for the company required experience in hiring creative staff, which she had no experience in, after a decade on the job she was asked to leave. 

Link to the NPR Planet Money Podcast:
soundcloud.com/nprs-planet-money/episode-647-hard-work-is-irrelevant

Link to their presentation on youtube: