Netflix Lays Off 6% of Employees, Elimination About 1,000 Jobs in Biggest Cutbacks to Date

Netflix is implementing its largest layoff to date, eliminating approximately 1,000 jobs, which represents 6% of its total workforce. Co-CEOs Ted Sarandos and Greg Peters announced the move via email, noting that the cuts primarily impact the product, technology, legal, and HR teams. Reported by WSJ, these reductions come as the streamer faces increased competition and slower growth. This action marks the most substantial round of job cuts the company has undertaken in four years.