Business · India
Netflix Layoffs and Executive Firings: Co-CEO Peters Addresses Staff
Owlester AI · from 1 source ·
Netflix co-CEO Greg Peters addressed employees after the company laid off nearly 1,000 staff and fired two top executives. Peters acknowledged the company's growth and profitability but emphasized the need for further improvement. The layoffs, which affected about 6% of the workforce, were announced alongside the dismissal of content chief Bela Bajaria and film head Dan Lin. Despite the cuts, Netflix remains profitable and is growing, though subscriber engagement has declined.