Netflix is slimming down as it gears up for a new streaming battle

Are you still watching? Apparently, not enough Netflix (NFLX) users are answering yes, or bothering to turn the streaming service on at all. On Wednesday, the industry's leading premium streamer announced it was cutting 6% of its staff, or roughly 1,000 positions, marking Netflix's biggest round of layoffs since 2022, as it copes with a waning audience and a beaten-down stock price. The company's product, HR, tech, and legal departments will be the focus of the cuts, according to an email to employees from co-CEOs Ted Sarandos and Greg Peters. (NFLX ) Go deeper with AlphaSpace 70.57 +0.11 (+0.16%) At close: October 14 at 4:00:01 PM EDT 71.15 +0.58 (+0.