Netflix Lays Off Six Percent of Its Global Workforce
Announced by company management, this decision has been recorded as the largest global downsizing step taken since 2022.
Popular streaming platform Netflix has announced that it will part ways with 6% of its global workforce, initiating its largest wave of layoffs since 2022.
Details of the Layoff Wave
The scope of the planned cuts was explained in an official email sent to staff by Netflix co-CEOs Ted Sarandos and Greg Peters.
Company management emphasized that this new, large-scale downsizing move is the most comprehensive step taken since 2022.
Affected Departments
It was announced that the planned layoffs will be concentrated particularly on specific departments.
In this context, it was stated that the majority of the cuts will be made in the product, technology, legal, and human resources teams.
Current Status and Past Steps of the Company
At the end of last year, approximately 16,000 people were employed within the company, with more than half of them based in the US.
Netflix had previously made an unsuccessful attempt to acquire Warner Bros. Discovery, and this move had been evaluated by investors.