Netflix Announces Major Workforce Reduction of Approximately 1,000 Employees

Netflix Inc. has revealed plans to cut approximately 1,000 jobs, representing a 6% reduction in its global workforce. This strategic move primarily impacts employees in product, technology, legal, and human resources divisions, as the company aims to streamline operations and enhance its focus on delivering entertainment worldwide. The layoffs are the largest for the streaming giant since 2022 and come ahead of its third-quarter earnings report.