Netflix reportedly to cut about 850 employees amid stock dip
Business
Netflix is reportedly gearing up to let go of about 850 employees, roughly 5% of its global team, as it tries to handle slowing growth in audience engagement and a dip in stock performance.
Netflix bought interpositive AI filmmaking startup
Even with these challenges, Netflix isn't backing down from its focus on tech and innovation.
Earlier this year, it bought InterPositive, an AI filmmaking startup, showing it's betting big on smarter content creation.
With its next earnings report set for October 20, co-CEOs Ted Sarandos and Greg Peters are expected to share how they plan to keep Netflix growing and competitive in the crowded streaming world.