Netflix Initiates Major Layoffs, Cutting 1,000 Jobs

• Netflix has begun a significant round of layoffs, cutting about 1,000 jobs, which represents 6% of its global workforce.
• The layoffs affect multiple departments including product, tech, legal, and HR.
• This is Netflix's largest round of job cuts in four years.
• The layoffs come as the company faces slower growth and have been anticipated.
• Doug Belgrad, VP of Film at Netflix, is leaving the company as part of the layoffs.