Netflix prepares layoffs affecting ~5% of staff, about 850 jobs

Netflix is preparing a round of layoffs that will impact roughly 5% of its employees, or about 850 jobs, according to sources. The move comes amid pressure over weakened engagement and a depressed stock price.

• Layoffs to affect about 5% of Netflix employees
• That equals roughly 850 jobs
• Driven by weakened engagement and a depressed stock price