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Netflix has cut several dozen roles from its global product team as part of an internal restructuring, according to a report by Variety.
While the streaming giant has not officially confirmed the exact number of employees affected, the report suggests the layoffs primarily impacted its creative studio unit. The report states that this team includes designers and producers responsible for creating promotional materials such as posters, in-app trailers and content used in live experiences across Netflix’s content, product and marketing divisions.
The job cuts come at a time when many technology companies are restructuring teams amid a wider industry shift towards artificial intelligence tools and automation.
Earlier this week, Atlassian said it would cut around 10 per cent of its workforce. Other large technology firms have also announced significant layoffs in recent months, including Block, which has reduced 40 per cent of its workforce. And Amazon, which has reduced its workforce by about 16,000 employees in one round of job cuts.
The restructuring has reportedly resulted in some employees being made redundant, while others have been reassigned to different roles within the company.
According to the report, the layoffs were not linked to employee performance and represented only a small portion of the broader team.
Netflix is believed to employ roughly 16,000 people worldwide. Around 70 per cent of its workforce is based in the United States and Canada, with the rest spread across regions including Europe, the Middle East, Africa, Asia-Pacific and Latin America. In 2023, the company reported having about 13,000 employees.
The news of the layoffs comes shortly after Netflix received a $2.8 billion break-up fee related to a failed deal involving Warner Bros. Discovery. The payment was made after Paramount Skydance raised its bid for the media company, prompting Netflix to withdraw from the acquisition process.
In February, Netflix co-CEOs Ted Sarandos and Greg Peters said the revised offer from Paramount Skydance pushed the deal beyond a price the company considered financially reasonable, leading Netflix to step away from the negotiations.
While the streaming giant has not officially confirmed the exact number of employees affected, the report suggests the layoffs primarily impacted its creative studio unit. The report states that this team includes designers and producers responsible for creating promotional materials such as posters, in-app trailers and content used in live experiences across Netflix’s content, product and marketing divisions.
The job cuts come at a time when many technology companies are restructuring teams amid a wider industry shift towards artificial intelligence tools and automation.
Earlier this week, Atlassian said it would cut around 10 per cent of its workforce. Other large technology firms have also announced significant layoffs in recent months, including Block, which has reduced 40 per cent of its workforce. And Amazon, which has reduced its workforce by about 16,000 employees in one round of job cuts.
Netflix layoffs
The restructuring has reportedly resulted in some employees being made redundant, while others have been reassigned to different roles within the company.
According to the report, the layoffs were not linked to employee performance and represented only a small portion of the broader team.
Netflix is believed to employ roughly 16,000 people worldwide. Around 70 per cent of its workforce is based in the United States and Canada, with the rest spread across regions including Europe, the Middle East, Africa, Asia-Pacific and Latin America. In 2023, the company reported having about 13,000 employees.
The news of the layoffs comes shortly after Netflix received a $2.8 billion break-up fee related to a failed deal involving Warner Bros. Discovery. The payment was made after Paramount Skydance raised its bid for the media company, prompting Netflix to withdraw from the acquisition process.
In February, Netflix co-CEOs Ted Sarandos and Greg Peters said the revised offer from Paramount Skydance pushed the deal beyond a price the company considered financially reasonable, leading Netflix to step away from the negotiations.
