A memo from co-CEOs Ted Sarandos and Greg Peters says product, tech, legal and HR teams are hit hardest. Netflix reports quarterly earnings on 20 Oct.
Netflix told staff on Wednesday it is letting go of about 6% of its workforce, or roughly 1,000 people, according to a memo from co-CEOs Ted Sarandos and Greg Peters seen by CNBC and Reuters. The memo says the product, technology, legal and HR teams are most affected. “Our business is strong and growing, and we remain on track to deliver our full-year forecast,” the co-CEOs wrote. Netflix told CNBC it had nothing to add beyond the memo. Its last large round of cuts was in 2022, when it let go about 450 people in two rounds. Netflix reports third-quarter earnings on 20 October.