Netflix Plans to Cut 5 Percent of Workforce
Netflix is reportedly planning to reduce its workforce by about five percent with an announcement expected soon. The streaming giant faces rising competition and aims to diversify its revenue sources.
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Netflix is planning to cut 5% of its workforce, with an announcement expected as early as next week, Puck News reported on Friday. The streaming giant employed about 16,000 full-time workers at the end of last year. The upcoming reductions follow a period of intensifying competition and shifting revenue models across the media sector.
