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Netflix cuts about 1,000 jobs, with product and technology teams heavily affected
Confirmed reporting
Netflix plans to eliminate about 6% of its workforce, or nearly 1,000 positions, in its largest round of cuts in years. Product, technology, legal and human-resources teams are expected to be among the most affected, according to a memo from its co-CEOs reported by the Associated Press.
Candidate interpretation
This is a direct negative signal for candidates in product, engineering and corporate functions even though Netflix says its business remains strong. Applicants should assume tighter headcount controls and verify whether a role survived the reorganization, has approved budget and is considered part of a priority growth area.