Netflix Plans to Cut About 5% of Its Workforce as Early as Next Week, Report Says
The move would affect about 800 workers and mark Netflix’s largest reduction since 2022, Reuters reported.
- On Friday, Puck News reported that Netflix plans to cut approximately 5% of its workforce, with an official announcement expected as early as next week.
- Roughly 800 workers would be affected by this reduction, based on Netflix's total headcount of about 16,000 full-time employees at the end of last year.
- Netflix's last major round of layoffs occurred in 2022, when the company cut hundreds of jobs amid decelerating growth and a shrinking subscriber base.
- The streaming giant has been expanding beyond its subscription business, investing in advertising, live programming, and gaming to diversify revenue sources.
- YouTube captures a growing share of viewership and advertising spending, intensifying competitive pressure across the streaming market as media companies consolidate.
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Netflix, a streaming company, plans to cut about 5 percent of its workforce from next week, according to the Puck newsletter.The company had 16,000 full-time employees at the end of last year, 68 percent of whom were in the United States, according to a paper presented to regulators.A spokesperson for the video streaming service declined to comment at the moment.Why did Netflix's stock fall?Netflix's stock has lost about 42 percent of its value …
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KESQNetflix Reportedly Planning Layoffs Affecting 5% of Workforce
Netflix is preparing to cut about 5% of its workforce in a restructuring that could eliminate hundreds of jobs, according to a report published Friday. The entertainment industry news outlet Puck reported Friday that the layoffs could be announced as early as next week, citing sources familiar with the company’s plans. Netflix did not immediately […]
Netflix plans substantial layoffs, sources say
Netflix plans to lay off employees, according to sources familiar with the streaming company's plans. The cuts come after investors have expressed concerns over user engagement. The stock has declined 43% compared to a year ago.
Los Angeles (USA), Oct 9 (EFE).- Netflix plans to fire 5% of its workforce and could announce it next week, Puck News reported, citing anonymous sources. Netflix reported that it had about 16,000 full-time employees by the end of 2025, so a 5% cut would be equivalent to about [...] Netflix’s entry plans to fire 5% of its workforce, according to Puck News was first published in HolaNews.
5% of Netflix's workforce will be fired; cuts will begin next week.
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