THE BARE STORY
Netflix said it will lay off about 1,000 employees, or roughly 6% of its global workforce, in its largest round of job reductions since 2022.
The cuts will primarily affect product, technology, legal and human resources teams, according to a memo from co-CEOs Ted Sarandos and Greg Peters. The company said the reductions are part of more focused decisions on staffing and resources.
Sarandos and Peters said Netflix remains financially strong, is growing and is on track to meet its full-year forecast. They said the company plans to continue investing in areas intended to improve its service, innovation and growth.
The announcement comes before Netflix’s next quarterly earnings report, scheduled for Oct. 20.
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