Netflix cuts 6% of workforce, its biggest layoffs in years, The Hill reports
Netflix is laying off about 6% of its workforce, with product, tech, legal and HR teams hit hardest, according to a memo from its co-CEOs.
Netflix is laying off about 6% of its workforce, according to CNBC, CBS News, The Verge and The Hill. The Hill calls it the company's biggest round of job cuts in years.
Co-CEOs Ted Sarandos and Greg Peters announced the cuts in a memo to employees. CBS News and The Hill say product, tech, legal and human resources teams would be the most affected.
The Verge puts the total at around 1,000 employees. It cites Variety, which obtained a copy of the email. The Verge says a report last week had put the planned cut at five percent.
CBS News links the layoffs to slowing revenue growth. The 1,000 figure and the earlier five percent report come only from The Verge.
Reported by
- CNBCNetflix is laying off roughly 6% of its workforceWed, Oct 14, 9:50 AM EDT
- CBS NewsNetflix is cutting 6% of its workforce as its revenue growth slowsWed, Oct 14, 10:49 AM EDT
- The VergeNetflix is laying off around 1,000 employeesWed, Oct 14, 11:12 AM EDT
- The HillNetflix laying off 6 percent of its workforce, marking biggest round of job cuts in yearsWed, Oct 14, 1:24 PM EDT
This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.
Earlier versions (2)
- Wed, Oct 14, 11:20 AM EDT, 3 outlets: Netflix to lay off about 1,000 employees, 6% of its workforce
- Wed, Oct 14, 10:56 AM EDT, 2 outlets: Netflix to lay off about 6% of its workforce