Netflix Cuts 1,000 Jobs After Earlier Layoff Warnings

Netflix is cutting roughly 1,000 jobs worldwide—about 6% of its workforce—in what it described as its largest layoff round since 2022. Co-CEOs Greg Peters and Ted Sarandos told employees in an email, with most of the reductions expected to hit product, technology, legal, and human resources teams, according to The Wall Street Journal. The streaming company is grappling with slowing growth, concerns about subscriber engagement, and questions about whether newer units, including retail and gaming, deliver enough return. Retail leader Greg Lombardo is leaving after seven years. The moves follow earlier reporting that the cuts could reach 1,000 roles.