Los Gatos, California-based Netflix, a subscription streaming service and production company, has announced a 6% reduction in force after a major revenue downturn.
The right-sizing effort will affect an initial 1,000 employees company-wide, including executives and creatives.
According to Co-Chief Executives Greg Peters and Ted Sarandos, "The bulk of the cuts would be in the streaming product, tech, legal and human-resources teams. Our mission—to entertain the world—is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources. We’ll continue to invest aggressively in high-impact areas to improve our service and further drive growth and innovation. However, doing that means making focused choices across the business so we can keep delivering for our members, partners, employees, and investors.”
Change is constant, and it's coming. Tomorrow will always come, no matter how much you try to ignore it. Life offers no guarantees, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you wondering, "Am I Next?"