Biggest layoff since 2022... Netflix cuts about 1,000 employees

Netflix plans to lay off about 6% of its workforce, roughly 1,000 employees, in its largest round of job cuts since 2022, according to an internal memo seen by Reuters. The message sent to staff by co-CEOs Greg Peters and Ted Sarandos showed that most of the cuts will hit the product, technology, legal and human resources teams, while management stressed the company's business is "strong and growing" and that it remains on track to meet its full-year guidance. Netflix employed about 16,000 people at the end of last year, and its shares are still down about 25% since the start of the year.