NETFLIX PREPARING 5 PER CENT STAFF REDUCTION

LOS ANGELES, OCTOBER 9 /SRNA-RIA Novosti/ - Netflix plans to reduce its workforce by around five per cent, media reported today.

According to the reports, Netflix could announce the planned layoffs later this week.

The company last reduced its workforce in 2022, when it cut about two per cent of its employees.

Netflix has come under pressure following its recent unsuccessful attempt to acquire Warner Bros. The company was founded in 1997 and is headquartered in Los Gatos, California.

Netflix has been producing its own films, series and television programs since 2013. It employs around 17,000 people.