News Summary

• Most of the cuts will hit the product, tech, legal and human resources teams.
• The layoffs come a week before Netflix reports quarterly earnings.
• Co-CEOs Greg Peters and Ted Sarandos said the company remains on track to meet its full-year forecast and will “continue to invest aggressively in high-impact areas” The streamer is cutting 6% of its staff globally.
• It’s the company's biggest round of Netflix layoffs since 2022, according to Variety.