Netflix Cuts About 6% of Workforce, Roughly 1,000 Jobs, in Largest Layoffs Since 2022
Photo: NBC NewsHow the sides differ Left sources stress slowing growth and falling share price; alternative sources cite memos and competition; right sources stress audience struggles and timing before earnings.
Netflix is laying off about 6% of its workforce, roughly 1,000 jobs, according to reports citing an internal memo or a source. Several outlets call it the company's biggest cuts since 2022. Reports say the cuts span departments including product, tech, legal and HR. Left-leaning outlets link the cuts to slowing revenue growth, stalled engagement and a share price drop of over 40% in a year. Alternative outlets mention tough competition, while right-leaning outlets describe audience retention struggles and note the timing before third-quarter earnings.
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- NBC NewsNetflix to cut about 6% of worldwide staff
- The New York TimesNetflix, Facing Slowing Growth, Cuts 6% of Its Work Force
Left-leaning outlets present the layoffs as a response to slowing growth, stalled engagement and a sharply lower share price, and name affected teams.
Alternative outlets focus on the memo sourcing and the scale of the cuts, noting competition and that it is the biggest since 2022.
Right-leaning outlets stress the size of the cuts, describe Netflix as struggling to hold audiences, and note the timing before earnings, with 'reportedly' hedging.