Netflix staff were informed that the company will undergo significant layoffs Wednesday, a source confirms to The Hollywood Reporter, as the streaming giant seeks a reset amid efforts to keep its global business growing.
The company is expected to cut about 6 percent of its workforce, or about 1,000 people, making it the largest staff reduction at the company since 2022.
Netflix co-CEOs Ted Sarandos and Greg Peters announced the cuts in a memo to staff Wednesday morning. The company’s product, tech, legal and HR teams are said to have been particularly impacted.
“Our mission – to entertain the world – is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources,” the co-CEOs wrote in the memo, which was obtained by THR. “Our business is strong and growing, and we remain on track to deliver our full-…
