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Netflix Lays Off 4 of Its Top TV Execs
The Hollywood Reporter • • general
Key Points:
- Netflix laid off approximately 1,000 employees, including key TV executives such as Lisa Lang McMullen, James Oh, Carolina Garcia, and Andrew McQuinn, as part of its largest staff reduction since 2022, impacting about 6% of its workforce primarily in product, tech, legal, and HR teams.
- The movie division was also affected, with film VP Doug Belgrad and executive Sheroum Kim among those exiting during the reorganization.
- Netflix co-CEOs Ted Sarandos and Greg Peters emphasized that the company remains strong and on track to meet its full-year forecast, stating the layoffs are part of prioritizing resources to drive growth, innovation, and better service for members.
- Sarandos acknowledged that Netflix’s growth and user engagement have not met expectations, expressing hope that recent popular shows like Below and East of Eden will help boost usage time.
- Netflix is set to announce its third-quarter earnings next week, providing further insight into the company’s financial and operational performance.
