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Sources: Netflix is preparing for layoffs that will impact ~5% of employees, or ~850 jobs, amid pressure over weakened engagement and a depressed stock price (Matthew Belloni/Puck)

Facing pressure over weakened engagement and a depressed stock price, the streamer is prepping for a round of layoffs in the near future, per sources.

We haven't written up this one. Techmeme has the full story — the link below goes straight to it.

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