Netflix is cutting about 1,000 staffers in its biggest round of layoffs in years

What happened: Netflix is cutting about 1,000 employees, its biggest round of layoffs since 2022. Cuts fall mainly on product, tech, HR, and legal teams, with impacted staff notified Wednesday. Key numbers: About 1,000 employees cut. Stock down more than 30% over six months and over 40% over a year. Viewership grew 2% in the first half. 97 billion viewing hours. Why it matters: The cuts come a week before earnings and follow layoffs at NBCUniversal and Disney. Netflix also shifted engagement reporting to once a year, which troubled investors. Coverage: 3 outlets in 24h

Netflix is cutting about 1,000 employees, its biggest round of layoffs since 2022. Cuts fall mainly on product, tech, HR, and legal teams, with impacted staff notified Wednesday.

The cuts come a week before earnings and follow layoffs at NBCUniversal and Disney. Netflix also shifted engagement reporting to once a year, which troubled investors.