Netflix Cuts Dozens of Product Roles, Plans $600M InterPositive Acquisition
Netflix cut several dozen global product team roles in its creative studio unit under a reorganization led by new chief product and technology officer Elizabeth Stone. Netflix agreed to acquire AI moviemaking startup InterPositive for up to $600 million in cash and earnouts tied to performance milestones.
1. Job Cuts in Global Product Team
Netflix eliminated several dozen positions within its global product team, focusing on roles in the creative studio unit that handles marketing design and promotional assets. The reductions represent a small share of its roughly 16,000-employee workforce and follow the promotion of Elizabeth Stone to chief product and technology officer.
2. Acquisition of InterPositive and AI Capabilities
Netflix agreed to acquire InterPositive, the AI moviemaking startup founded by Ben Affleck, in a deal valued at up to $600 million. The transaction includes an initial cash payment and performance-based earnouts, aiming to integrate tools that enable post-production modifications like object removal and background adjustments into large-scale film projects.