Home / Business and Economy / Netflix Product Team Cut Amidst Warner Deal
Netflix Product Team Cut Amidst Warner Deal
12 Feb
Summary
- Netflix laid off dozens of employees from a product team, less than 1% of staff.
- The company plans expanded product features like interactive experiences and games by 2026.
- An $83 billion deal to acquire Warner Bros. Discovery's assets is pending shareholder vote.
Netflix recently conducted layoffs affecting dozens of employees within a product team, a move representing less than 1% of its total workforce. No senior executives in the product division were impacted by this restructuring, which occurred shortly after Elizabeth Stone assumed expanded responsibilities for the product team. The company is projecting continued product feature expansion by 2026.
These planned enhancements include interactive experiences, game connectivity to TVs via phones, and real-time personalized recommendations. Netflix is also advancing its use of AI tools for advertisers, aiming to create custom ads from its intellectual property, and streamlining campaign planning processes. AI is also being employed to improve subtitle localization and merchandising efforts.
The workforce adjustments coincide with Netflix's proposed $83 billion acquisition of Warner Bros. Discovery's studio and streaming assets. This significant deal, expected to close within 12 to 18 months pending regulatory approval, is slated for a shareholder vote by April. Executives anticipate substantial cost savings, primarily from operational efficiencies and technology system consolidation.
