Streaming giant Netflix announced a global layoff of about 6% on Wednesday, involving about 1,000 jobs. This is the biggest round of staff downsizing since 2022. Behind this is a slowdown in user growth and pressure on platform activity. Co-CEOs Greg Peters and Ted Sarandos said in an internal email to employees that the current layoffs mainly focus on product, technology, legal and human resources teams. The two said, “Our goal is to 'entertain the world'. If we want to achieve our goals, we must be careful about prioritizing investment in human resources and resources.” Peters and Sarandos said that the company will continue to invest more in high-value fields, but it needs to focus on making trade-offs across the entire business line to protect the interests of users, partners, employees and investors. The layoffs occurred a week before Netflix was about to release its quarterly report. Management said the profit guidelines for the whole year remained unchanged.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.