Netflix plans to cut 5% of its workforce, reportedly
NFLX•Netflix reportedly plans to cut about 5% of its workforce, with an announcement expected as early as next week. The company had about 16,000 full-time employees at the end of last year.
1. Planned workforce cuts
Netflix plans to cut about 5% of its workforce, with an announcement expected as early as next week, Puck News reported, citing people familiar with the matter. Netflix declined to comment.
2. Streaming competition
Netflix’s last major round of layoffs came in 2022, when it cut hundreds of jobs. The company has been expanding beyond subscriptions into advertising, live programming and gaming as it navigates competition from media companies and YouTube.
