Netflix Cuts About 6% of Jobs In Biggest Layoffs Since 2022

Netflix is laying off about 1,000 employees, or 6% of its workforce, in its largest round of cuts since 2022. The company says its business remains strong, but it is facing growing pressure from YouTube, TikTok, and other rivals. Reuters reports: The bulk of the job cuts would be in Netflix's product, tech, legal and human-resources teams, the email Co-CEOs Greg Peters and Ted Sarandos sent to employees on Wednesday showed. "Our mission -- to entertain the world -- is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people âand resources," they said in the memo. "Our business is strong and growing, and we remain on track to deliver our full-year forecast."

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