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Netflix is laying off 6% of its workforce, in biggest round of job cuts at streaming giant in years
Netflix plans to lay off about 6% of its workforce as part of wider organizational changes. Co-CEOs Greg Peters and Ted Sarandos announced the cuts in a memo to employees
Netflix is laying off 6% of its workforce, in biggest round of job cuts at streaming giant in years
Netflix plans to lay off about 6% of its workforce as part of wider organizational changes. Co-CEOs Greg Peters and Ted Sarandos announced the cuts in a memo to employees
Netflix is laying off 6% of its workforce, in biggest round of job cuts in years
Co-CEOs Greg Peters and Ted Sarandos said the company's product, tech, legal and human resources teams would be the most impacted
BREAKING: Netflix to shut down two more game studios
Netflix is sticking with video games but once again reducing the number of studios it owns making games. The streaming giant is closing Los Angeles-based Night School studio, which it acquired in 2021 and plans to close Helsinki-based Moonloot, which was founded in 2022. Just six weeks ago, Night School had released Unhinged, a novel 30-minute first-person horror game, streamable on TVs to Netflix users. The game was hailed by Netflix co-CEO Greg Peters in a call with investors. Six weeks later, Night School is closing. Prior to its Netflix tenure, Night School had developed the award-winning supernatural thriller Oxenfree. A second Oxenfree game followed after the purchase, as well as a mobile game designed to tie in to an episode of the Netflix show Black Mirror. Netflix attributed the studio closures to a prioritization around kids gaming, party games, story-driven fare and games with mainstream hooks, such as a recently released FIFA game. “We see an opportunity to be more focused in our execution, so we are making organizational changes to the business to match those priorities,” a Netflix spokesperson told Game File. Netflix is also cutting jobs from its internal games team. A rep declined to say how many jobs were being lost by these cutbacks. “We are incredibly grateful to the talented colleagues we’re saying goodbye to today. We thank them for all their contributions to Netflix, and wish them the best,” the rep said. Netflix started releasing video games, initially on mobile as a free bonus to subscribers, in 2021. By 2023, Mike Verdu, then the head of Netflix’s game operations, was telling me that the company was committed to growing carefully, as it offered more games and built up internal game studios. At the time, it hadn’t made any gaming job cuts. Since then, Netflix has altered its approach. In 2024, it shut down Team Blue, a start-up studio led by ex-Call of Duty and Halo developers that was exploring making a high-end first-person game for the service. Last October, Netflix shut down another studio, Boss Fight, shortly after Peters praised the team’s Squid Game game to investors. (One of Boss Fight’s main developers now works on the Netflix FIFA game for outside studio Delphi.) And in December, Netflix sold cozy game studio Spry Fox back to its founders. Amid all of this, Netflix has shifted from emphasizing mobile games to offering games through TVs and PCs, via streamed connections, with phones used as controllers. That’s how Night School’s Unhinged worked, along with games such as Boggle and Party Crashers that have collectively helped the Netflix game controller app chart well on mobile app stores. The studio cuts leave Netflix with a central gaming team that works with external developers, and a dedicated first party studio in, Helsinki-based Next Games, which produced many of the company’s couch-centric party games. The move away from having a roster of internal game studios aligns with Netflix’s own approach to shows and movies, which are largely produced externally. The company owns few TV/film production studios of its own. The gaming industry overall is seeing large holders of multiple studios cut back, with Sony, Ubisoft, Embracer, Microsoft and other giants closing or selling off studios. Cuts in California-based studios, where costs often run relatively high, have been particularly acute. Netflix has faced skepticism about its gaming plans for years. The moves today are likely to fuel them, and the company has few upcoming projects to counter the narrative. Among the few hinted, acclaimed independent studio Don’t Nod said last year it was working on a game tied to a major Netflix franchise.
Netflix Debated Launching a Theatrical Movie Business Before Warner Bros. Deal, Co-CEOs Say
Netflix in the past debated whether to launch its own business to distribute original films in theaters, but that fell short of its top priorities, co-CEOs Ted Sarandos and Greg Peters said.
Netflix executives seek to calm fears over multibillion-dollar Warner Bros. deal
Netflix co-chief executives Ted Sarandos and Greg Peters say the streamer will only see a slight increase in share of TV viewing with their proposal.
Netflix CEOs Call Warner Bros Deal “A Win For The Entertainment Industry,” But Wall Street Isn’t Convinced
Netflix Co-CEOs Greg Peters and Ted Sarandos call their pending $83B acquisition of Warner Bros. "a win for the entertainment business."
Netflix Co-CEOs Insist Warner Bros. Deal Is 'Not the End' of the Entertainment Industry
"This is something that we’ve heard for a long time — including when we started the streaming business," Ted Sarandos and Greg Peters write.
Netflix CEOs Defend Warner Bros. Deal in Memo to Employees: ‘We See This as a Win for the Entertainment Industry, Not the End of It’
Ted Sarandos and Greg Peters, the co-CEOs of Netflix, issued a memo to staffers that conveyed their belief that the company's deal to buy Warner Bros. and HBO Max will withstand a counterattack by David Ellison's Paramount Skydance and will clear regulatory hurdles.
HBO Won’t Have To Do “Gymnastics” To Make Itself A General Entertainment Brand Under Netflix Ownership
Ted Sarandos and Greg Peters were talking about buying Warner Bros. Discovery's streaming and studio operations.