Netflix to Lay Off Nearly 1,000 Staff Amid Competition

Netflix is laying off nearly 1,000 employees, representing about 6% of its workforce, as the streaming company reassesses its priorities amid growing competition for viewers’ attention. The company confirmed the job cuts, saying most affected roles would be in its product, technology, legal and human resources departments. Netflix said it would continue investing in areas it considers most important to its business and remains on track to meet its full-year financial forecast.