Netflix plans nearly 1,000 job cuts across key teams
The cuts would affect about 6% of staff, with product, technology, legal and human resources teams most affected.
Key takeaways
- Netflix plans to cut nearly 1,000 jobs, or about 6% of its workforce.
- Product, technology, legal and human resources teams will be most affected.
Netflix said Wednesday it plans to cut nearly 1,000 jobs, about 6% of its workforce, according to a memo obtained by CNBC. The reductions will mainly affect its product, technology, legal and human resources teams.
Co-CEOs Ted Sarandos and Greg Peters told employees the company must be disciplined in deciding where to direct staff and resources. They said Netflix’s business was strong and growing and remained on track to meet its full-year forecast.
Netflix is due to report quarterly earnings on Tuesday. Sarandos said last month that the company was “not growing as fast as I want.”
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
