Netflix is embarking on its largest round of layoffs since 2022: according to a Wall Street Journal report, the company will cut about 6% of its workforce, approximately 1,000 positions worldwide. Co-CEOs Greg Peters and Ted Sarandos informed employees of the move in a memo sent Wednesday morning.
According to the report, the layoffs will focus primarily on the product, technology, legal and human resources departments. The announcement comes less than a week before the release of third-quarter financial results, scheduled for October 20, against a backdrop of market concerns about slowing growth and weakening viewer engagement with the service.
