The Economic Times

Netflix announces its biggest layoffs to date, to fire 6% employees. Read the full letter of co-CEOs to staff

In a strategic move amid declining subscriber numbers, Netflix announced the layoff of approximately 1000 employees, making up about 6% of its workforce. The impacted roles will primarily come from product, technology, legal, and HR departments. Co-CEOs Ted Sarandos and Greg Peters informed the staff of this decision through an email, assuring support for those affected while reaffirming the company's focus on future growth.