Streaming company faces tough competition for viewers and engagement from legacy rivals and YouTube
Netflix is laying off 6% of its workforce, or roughly 1,000 employees, in its biggest cuts since 2022, according to an internal memo seen by Reuters, as the streaming pioneer faces tough competition for viewers from legacy rivals and YouTube.
The bulk of the job cuts would be in Netflix’s product, tech, legal and human-resources teams, the email co-CEOs Greg Peters and Ted Sarandos sent to employees on Wednesday showed.
