Business · Companies · 2 days ago
Netflix reportedly plans to cut 5% of its workforce
Netflix is reportedly preparing to cut about 5% of its workforce, with an announcement possible as early as next week.
The company has not confirmed the plan, and it has not said which teams could be affected.
Estimates of the job losses range from about 800 to 850, based on differing estimates of Netflix’s workforce.
The reported cuts come as investors scrutinize the company amid a sharp fall in its share price and slow growth in viewing engagement.
Netflix has tried to increase revenue through advertising, limits on password sharing and price rises.
It is also expanding into live events, podcasts and video games to attract and keep viewers.
Netflix is due to announce its next quarterly results on October 20.
Netflix is reportedly preparing to cut about 5% of its workforce as part of a restructuring.
The company could announce the cuts as early as next week, but Netflix has declined to comment.
Depending on the estimated size of its workforce, the reported reduction would affect about 800 to 850 jobs.
Reports cite investor concerns including a steep fall in Netflix shares and slow growth in viewer engagement.
Netflix is scheduled to report its next quarterly earnings on October 20.
- Who
- Netflix is reportedly planning the job cuts.
- What
- The company is preparing to cut about 5% of its workforce. Reports estimate this would mean about 800 to 850 jobs.
- When
- The cuts could be announced as early as next week. Netflix is due to report quarterly earnings on October 20.
- Where
- The cuts would affect Netflix’s global workforce; the sources do not specify locations.
- Why
- The cuts are described as part of a restructuring. Reports also cite investor pressure and concerns about share prices and viewer engagement.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Reports said Netflix was preparing to cut about 5% of its workforce.
Netflix could announce the reported job cuts.
Netflix is scheduled to announce its next quarterly earnings.
- Reported cut
- About 5% of Netflix’s workforce
- Estimated job losses
- About 800 to 850
- Workforce estimate
- About 16,000 full-time employees at the end of 2025; another report estimated 17,000 worldwide
- Possible announcement
- As early as next week
- Next earnings report
- October 20
Sources
Netflix planea despedir al 5% de su plantilla, reportan; enfrenta presión de inversionistas por la caída de acciones
Netflix layoffs on cards? Streaming giant plans to cut 5% of workforce as early as next week, says report
Netflix planea despedir a 850 trabajadores, alrededor de un 5% de su plantilla
Layoffs are coming for Netflix, too
Netflix планирует сократить 5% сотрудников компании
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