Netflix cuts 1,000 jobs in largest layoff since 2022

Netflix announced the elimination of approximately 1,000 jobs, or about 6% of its workforce, marking its largest layoff wave since 2022. This move comes amid increasing competition in the streaming market, with most of the targeted layoffs concentrated in product, technology, legal affairs, and human resources teams. Netflix is aiming to diversify its revenue streams through investments in advertising, live programming, and gaming to address economic challenges and achieve greater financial sustainability.

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