Netflix to Cut About 1,000 Jobs as Growth Cools
Netflix is cutting roughly 1,000 jobs, about 6% of its workforce, in its largest layoff round in more than four years. The cuts span departments as engagement growth slows.
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BUZZ — Netflix cuts most jobs since 2022, shares dip
* Netflix shares down 1% to $69.77 on Weds after co said it's laying off 6% of its workforce, or about 1,000 employees, according to an internal memo seen by Reuters * The largest job cuts since 2022 come as the streaming giant faces tough competition for viewers from legacy rivals and free platforms like YouTube * Ana
Netflix to Cut About 1,000 Jobs, About 6% of Workforce
Netflix announced it will cut about 1,000 jobs, roughly 6% of its workforce, in its largest layoff round since 2022. The cuts were announced less than a week before the company reports third-quarter earnings on Oct. 20.