Netflix slashes 1,000 jobs: What’s behind the cuts?

Notably, the majority of the layoffs will impact the product, technology, legal and human resources departments.Netflix has been diversifying its content strategy beyond on-demand films and television adding live events, sports, video podcasts and content from YouTube creators.It has also sought content distribution networks and joint packaging deals with rival streaming platforms.The executives wrote in an email to staff, “Our mission — to entertain the world — is ambitious, and….

The co-CEOs told employees the business is positioned to achieve its full-year revenue and earnings targets.

Netflix is reportedly eliminating about 1,000 jobs from its global workforce as the streaming company re-evaluates its workforce needs while seeking new ways to retain users.According to the Wall…