Netflix cuts about 6% of jobs in biggest layoff since 2022, reports
Netflix is cutting about 6% of its workforce, or roughly 1,000 jobs, in its biggest round of layoffs since 2022, the Wall Street Journal reported on Wednesday, citing an email sent to employees. The streaming giant’s layoffs come as it faces intense competition for users’ time in a consolidated media market. The bulk of the job cuts would be in the streaming giant’s product, tech, legal and…
Netflix announced on Wednesday that it is reducing its workforce by 6%, which equates to around 1,000 jobs, in its largest layoff since 2022, according to the Wall Street Journal. The decision comes as the streaming platform competes fiercely for users' attention in a saturated media landscape. Out of 16,000 full-time employees at the end of last year, the majority of the job cuts will affect product, technology, legal, and human resources teams, as reported by the email sent to employees by Co-Chief Executives Greg Peters and Ted Sarandos.
Netflix has not yet commented on the matter. However, the company has been diversifying its revenue streams by securing exclusive broadcast rights for the 2030 World Cup in Spain and investing in advertising, live programming, and gaming.
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- Netflix to cut 1,000 jobs worldwide bbc.co.uk
- Videostreaming: Netflix streicht rund 1.000 Jobs handelsblatt.com
