Netflix reportedly undergoes internal restructuring, laying off dozens of employees from the global product team

Netflix cut dozens of employees from its global product teams as part of an internal reorganization. Netflix declined to comment on or confirm the exact number of layoffs, but reports indicate that the cuts mainly involved the creative studios division. The team is made up of designers and producers, and is responsible for producing marketing materials such as posters, in-app trailers, and other content, as well as providing relevant content for offline experience events across content, product, and marketing segments. As part of the reorganization, some employees were laid off, while others were transferred to different roles at Netflix. Sources say the layoffs were not related to individual employee performance, and the number of people laid off accounted for only a very small proportion of the entire team. Just as news of the layoffs broke, Netflix had just received a $2.8 billion breakup fee—Paramount and Tencent-backed Media Group increased their hostile acquisition bid for Warner Bros. Discovery, forcing Netflix to give up the deal it had been pursuing previously.