Business & Finance
Netflix confirms roughly 1,000 job cuts, about 6% of staff
Co-CEOs Ted Sarandos and Greg Peters announced the cuts by email to staff, saying the company remains on track for its full-year forecast.
The short version
- Netflix is laying off roughly 6% of its workforce, or around 1,000 employees.[TechCrunch]
- Most affected roles are in product, technology, human resources, and legal teams.[The Verge]
- Co-CEOs Ted Sarandos and Greg Peters announced the cuts by email to staff on Wednesday, saying the company remains on track for its full-year forecast.[NBC News · CBS News · TechCrunch]
Key facts
- Netflix is laying off roughly 6% of its workforce, or around 1,000 employees.[NBC News · The Verge · TechCrunch]
- Most of the job cuts affect staff in product, technology, human resources, and legal teams.[NBC News · The Verge · TechCrunch]
- Co-CEOs Ted Sarandos and Greg Peters announced the layoffs in an email to staff on Wednesday.[NBC News]
- Netflix had roughly 16,000 full-time employees at the end of last year, according to its annual filing.[TechCrunch]
- Sarandos and Peters said Netflix remains on track to deliver its full-year forecast.[CBS News · TechCrunch]
- The news of the layoffs was first reported by The Wall Street Journal.[CBS News]
What remains uncertain
- The claim that the company remains on track for its full-year forecast comes from management statements and is not independently verified in the reporting.[CBS News · TechCrunch]
- Reporting says most cuts fall in four functions but does not give a breakdown of cuts by individual team.[The Verge · TechCrunch]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- Netflix is laying off around 1,000 employeesThe Verge
- Netflix cutting workforce as its revenue growth slowsCBS News - Top Stories
- Netflix to lay off 1,000 staff amid intensifying competition for user attentionTechCrunch
- Netflix to cut about 6% of worldwide staffNBC News - Top Stories
- Netflix to cut 1,000 jobs worldwideBBC News - Business
- 5 reasons Netflix is struggling as it cuts about 1,000 staffersBusiness Insider metered
- Netflix TV Executives Lisa Lang McMullen, James Oh, Carolina Garcia and Andrew McQuinn Among LayoffsThe Hollywood Reporter metered
- Netflix is laying off 6% of its workforce, in biggest round of job cuts at streaming giant in yearsAssociated Press