Netflix is cutting about 1,000 staffers in its biggest round of layoffs in years
Source: Business Insider ·
Netflix is cutting about 1,000 employees in the face of slowing engagement growth and a stagnant stock price.
From the source
Netflix is turning to layoffs under co-CEO Ted Sarandos.Samuel Boivin/NurPhoto via Getty Images; Bloomberg/Getty ImagesNetflix is cutting about 1,000 employees, following in the footsteps of other major media companies.The cuts impact staffers on the product, tech, and HR teams, a person familiar with the move said.Shares of the streaming giant are down significantly this year and its engagement growth has slowed.Netflix is laying off about 1,000 employees in its biggest round of cuts since 2022, a person familiar with the plans confirmed.The streaming giant is letting go of staffers primarily across the product, tech, HR, and legal teams, the person said. Employees impacted by the downsizing were notified on Wednesday.The Wall Street Journal first reported the news.Other media giants have made cuts in recent weeks. NBCUniversal said in early October that it's parting with a few hundred global streaming tech employees, while Disney did its third round of layoffs in six months in late…