Netflix Cuts About 1,000 Jobs, Roughly 6% of Global Workforce
Netflix is eliminating approximately 6% of its global workforce, a reduction of around 1,000 positions, according to the Wall Street Journal. The move represents the streaming company's deepest staffing cut since 2022. The layoffs come as Netflix faces headwinds from decelerating growth and weakening viewer engagement. The company trades under the ticker NFLX. The reductions affect the global workforce rather than a single division or region.
Key facts
- Netflix is cutting about 6% of its global workforce
- The reduction amounts to roughly 1,000 jobs
- It is Netflix's biggest layoff round since 2022
- The company faces decelerating growth
- Netflix is also contending with weakening viewer engagement
- The Wall Street Journal reported the layoffs
- Netflix trades under the ticker symbol NFLX
- The cuts span the company's global workforce
Entities
Artists
- Ted Sarandos
- Greg Peters
- Josh Hartnett
- Ross Benes
Institutions
- Netflix
- Wall Street Journal
- Reuters
- Puck News
- Bloomberg Screentime summit
- Paramount
- Warner Bros
- HBO
- YouTube
- TikTok
- eMarketer
- BBC
- The Wall Street Journal
Locations
- United States
Sources
- BBC Culture —
- ArtsJournal —
- Quartz —
- Quartz —