Netflix lays off 6% of workforce, around 1,000 employees

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Netflix co-CEOs Ted Sarandos and Greg Peters announced the layoffs in a company memo. This cut represents approximately 1,000 employees, or six percent of the streaming company's workforce. The move follows earlier job reductions of 150 and 300 staff in May and June of 2022. The layoffs primarily impact the product, technology, human resources, and legal divisions as Netflix aims to reduce costs amid slower revenue growth.

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