Netflix is regrouping after releasing its latest quarterly earnings this week, as revenue growth at the streaming giant has slowed. The company is also working to overhaul its programming unit, which appears to have driven the 6% workforce reduction.
The layoffs come amid broader challenges for Netflix, including the need to improve its US shows and movies, according to reports from co-CEOs.
The cuts follow a period of leadership changes and lowered forecasts that investors have been reacting to, signaling a shift in the company's strategic direction.
