Netflix to lay off 1,000 staff amid intensifying competition for user attention
Netflix is laying off about 6% of its employee base, or close to 1,000 staff, the company confirmed to TechCrunch.
The streaming giant said most of the cuts would affect its product, tech, legal, and human resources departments. The company said it will “continue to invest aggressively in high impact areas” to improve its service, and stated it is on track to deliver its full-year forecast.
Netflix had 16,000 full-time employees as of the end of last year, according to its annual filing with regulators.
The Wall Street Journal first reported the news, citing an internal memo sent to employees.
“Our mission—to entertain the world—is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources,” the Journal cited the company’s co-CEOs Ted Sarandos and Greg Peters as writing in the memo.
The layoffs come in the wake of a protracted bidding war...
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