From BigGo Finance · BigGo Finance · · 1m 10s
Amazon Cuts Jobs, Netflix Plans Major Layoffs
Amazon cuts fewer than 1,000 roles as Netflix prepares largest layoff since 2022.
In brief
Amazon cuts fewer than 1,000 roles as Netflix prepares largest layoff since 2022. Amazon eliminated fewer than 1,000 corporate jobs in the US, India, and UK while Netflix plans to lay off 800 employees, its largest reduction since 2022. Originally reported by BigGo Finance.
Amazon cuts corporate jobs
Amazon eliminated fewer than 1,000 corporate positions across the US, India, and UK.
Netflix prepares 800 layoffs
Netflix plans to cut 800 employees, or 5% of its workforce, as early as next week.
Amazon's job cuts focus on stores
Affected employees work in customer service, engineering, and marketplace support teams.
Amazon founder explains cuts
Jeff Bezos said the company grew too aggressively during the pandemic.
“People were staying home and they were ordering, and it was an incredible, stressful period for us, by the way”
Netflix targets 800 positions
Netflix has approximately 16,000 full-time workers with 68% based in the US.
Netflix growth slowing
Viewing time rose just 2% in first half of this year compared to same period last year.
Netflix's stock decline
Netflix shares have fallen roughly 42% since pursuing Warner Bros. Discovery.
Netflix's strategic shift
Netflix has broadened catalog to include live events, podcasts, and video games.
Here's the gist
Amazon eliminated fewer than 1,000 corporate jobs in the US, India, and UK while Netflix plans to lay off 800 employees, its largest reduction since 2022.
