Netflix Is Reportedly Cutting 5% of Its Staff. Its 2022 Layoffs Came Days After the Stock Bottomed.
The company's spending outside content is growing faster than its sales again. Does 2022 say anything about the stock?
Overview
Netflix (NASDAQ:NFLX) plans a restructuring that would cut around 5% of its staff and may be announced as early as next week, Puck reported on Friday. Netflix declined to comment, so for now the cuts are only reported.
But the scale stands out. The streaming giant had around 16,000 full-time employees at the end of 2025, which puts a 5% cut at about 800 jobs. That'd be over the 450 or so jobs Netflix shed across two rounds in 2022, its latest big layoffs.
Details
And the first of those 2022 rounds came just four trading days after the stock's lowest close in that slump.
Source
Originally published at www.fool.com.
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