Netflix layoffs on cards? Streaming giant plans to cut 5% of workforce as early as next week, says report

What this means for your job search: Anticipate a more competitive tech job market and potentially slower hiring processes across the industry. Focus on clearly articulating your direct impact and value to differentiate yourself among a larger candidate pool. Netflix is reportedly preparing to cut about 5% of its workforce. The company has expanded into live events, podcasts and games while pursuing new revenue streams. It is scheduled to report quarterly earnings on October 20.