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Netflix to lay off about 6% of its staff
The Block
1h ago
Ai Focus
Internal memos reveal that Netflix announced on Wednesday that it will lay off about 6% of its employees, mainly from the product, technology, legal, and human resources teams. Co-CEOs Saldanos and Peters stated that the company's business is strong and continues to grow, and they will continue to increase investment in high-value areas.
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An internal memo shows that Netflix ( NFLX ) announced on Wednesday that it will lay off about 6% of its employees.

This round of layoffs mainly affects the product, technology, legal affairs, and human resources teams.

Netflix Co-CEO Ted Sarandos and Greg Peters wrote in an email to all employees: "Our mission—to bring entertainment to the world—is a grand one. To achieve this mission, we must carefully plan the priorities for our investment of human resources and assets. Our business is strong and continues to grow, and we are on track to meet our annual performance targets. We will continue to increase investment in high-value areas, optimize our products and services, and further drive business growth and innovation. This requires us to make targeted choices throughout the company in order to continue to create value for our members, partners, employees, and investors."

Netflix stated that, apart from this internal memorandum jointly CEO, the company will not provide any additional comments.

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