Netflix announces biggest layoffs since 2022, affecting 6% of its workforce
- Netflix announced plans to cut around 1,000 jobs globally, affecting 6% of its staff, on October 14.
- The layoffs will mainly affect product, technology, legal and human resources teams across the company.
- Netflix faces slowing viewer engagement and rising competition from free platforms like YouTube and TikTok.
- Co-CEOs Ted Sarandos and Greg Peters said Netflix remains on track to meet its annual financial targets.
Source: storyboard18.com
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