Executive Editor Brian Sozzi discusses Netflix (NFLX) eliminating roughly 6% of its workforce in its largest round of job cuts since 2022 to rein in costs amid mounting competition and slowing top-line growth.
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And I think it's about to be a morning for Netflix, a company that I told you about last week. I talked to you about it yesterday. I said the company was about to come out with job cuts and it looks like it just did that, at least according to the Wall Street Journal. Netflix eliminating about 6% of its staff. Biggest cuts since 2022. The street wanted to see this. Netflix's stock has not done really anything except go down this year because of more competition from Google and a lot of other media players. This is the first step for Netflix in getting its cost base under control as its top line is under pressure. What I mentioned yesterday, I want to bring it up again today. I think Netflix has to take this earnings call coming up on Monday a lot more seriously than prior earnings calls. The she wants to hear, I think a little bit about a potential dividend from Netflix. It would be a first for this company, but a lot of media companies pay one out.