Netflix said it will cut about 6% of its workforce, or around 1,000 jobs. Most of the reductions will affect product, technology, legal, and human resources teams.

In a memo, co-chief executives Ted Sarandos and Greg Peters said the company was being disciplined about how it prioritized people and resources.

They added that Netflix remained on track to meet its full-year forecast ahead of quarterly results due on October 20. The cuts are its biggest since 2022.

The layoffs followed Sarandos’ recent comment that Netflix was not growing as fast as he wanted, though the company is still backing advertising, live programming, and gaming.

The move also comes amid broader media layoffs. Disney recently cut around 300 jobs.

🔗 Source: CNBC

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