Netflix cuts of film and TV executives hint at programming woes
Staff let go include a director of original TV series who worked on shows such as Stranger Things
Netflix has laid off several high-ranking film and television executives, signaling potential challenges in their programming strategy. Among those let go were Doug Belgrad, a former Sony Pictures executive, and Carolina Garcia, the director of original TV series responsible for shows like Stranger Things and 13 Reasons Why. The company also cut staff in series development, independent film acquisition, and publicity.
The layoffs accounted for approximately 6% of Netflix's workforce, or around 1,000 employees, affecting divisions such as tech, legal, human resources, and product. In a staff memo, Netflix co-CEOs Ted Sarandos and Greg Peters emphasized the company's overall strength and commitment to aggressive investment in areas that enhance the service and foster growth.
Despite recent declines in audience engagement and subscriber growth, Netflix remains optimistic about its future, with its financial results due on October 20.
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