Netflix will cut around 1,000 jobs worldwide, representing about six percent of its employees. This is the largest layoff at the company since 2022. The decision was announced to employees on October 14 by co-CEOs Greg Peters and Ted Sarandos. El Mundo ↗
The layoffs are related to the slowing growth of the streaming platform. Sarandos cited too slow a pace of growth as the reason. At the same time, the company told employees that its business is strong and continues to grow. Der Standard ↗
The job cuts are expected to affect several parts of the company, including teams responsible for product and technology. Available information does not provide an exact breakdown of the layoffs by country or by individual department. According to information available so far, film and series production should not be affected by the cuts. TVN24.pl ↗
Netflix's leadership stated that the decision was not easy and that the company did not make it without careful consideration. The layoffs come after a period in which the company was expanding its content offering and investing in new ways of acquiring subscribers. Le Monde ↗
Netflix has not yet disclosed details about the timing of the individual steps or exactly how the changes will play out in its operations. However, the scale of the announced staff reduction confirms that the company is responding to the new pace of growth in the streaming market.
Netflix to cut around 1,000 jobs worldwide
This summary was generated by artificial intelligence. It may contain inaccuracies. Please verify information in the original sources below.
Sources (5)
Netflix propustí tisícovku zaměstnanců, nejvíce od roku 2022
seznamzpravy.cz
| 18:00 14.10.
US-Streamingriese Netflix streicht rund 1.000 Jobs
Der Standard
| 17:53 14.10.
Netflix streicht sechs Prozent seiner Stellen
ORF
| 17:51 14.10.
Netflix despedirá a unos 1.000 empleados, el 6 % de su plantilla, según medios estadounidenses
El Mundo
| 17:17 14.10.
Netflix cuts 1,000 jobs as CEOs tell employees ‘business is strong and growing’
Independent
| 16:57 14.10.
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