Netflix has been trying to expand beyond its subscription business by investing in ad tiers, live programming and gaming. (EPA Images pic)SAN FRANCISCO: 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.
"Our mission -- to entertain the world -- is ambitious, and delivering on it requires us to be disciplined about where we prioritise our people and resources," they said in the memo.
