Netflix Inc. is cutting about 1,000 jobs, or 6% of its global workforce, amid slowing growth, the Wall Street Journal reported.
The latest round, the company’s biggest since 2022, will largely affect its product, technology, legal and human-resources teams, according to an email sent to employees by co-Chief Executive Officers Greg Peters and Ted Sarandos on Wednesday, the Journal noted.
Netflix’s unsuccessful bid to acquire Warner Bros. Discovery Inc. has also drawn investor scrutiny. The attempt to buy the Hollywood studio and gain access to its portfolio of established characters and stories was viewed by investors as a sign of underlying weakness.
Analysts have raised concerns over Netflix’s lack of new blockbusters, which could be affecting its ability to retain viewers. Engagement grew just 2% in the latest period, while the company recorded its fewest Emmy Award wins in a decade.
Netflix employed about 16,000 people at the end of last year, more than half of whom were based in the US.
