Netflix is cutting about 1,000 jobs, 6% of its workforce, in its largest layoff to date, according to a memo from co-CEOs Ted Sarandos and Greg Peters. The shares are down more than 40% in 12 months, the Wall Street Journal reported, and earnings land on Oct. 20.
Perspective Coverage
34 publishers
- Builder
- Builder 14%
- Operator
- Operator 36%
- Investor
- Investor 50%
Reality
- Evidence82
- Adoption
- Not scored
- Hype gap+15
- Incentives
- Not scored
- Confidence80
Kroger CEO Greg Foran told staff the grocer will cut about 3,000 corporate roles over three years, according to a memo shared with Business Insider. The memo says the reductions free resources for frontline associates and lower prices.
Perspective Coverage
7 publishers
- Builder
- Builder 16%
- Operator
- Operator 42%
- Investor
- Investor 42%
Reality
- Evidence72
- Adoption
- Not scored
- Hype gap+35
- Incentives60
- Confidence75
Bird's CEO says high performers who were not multidisciplinary did not stay
Bird said its headcount fell from more than 1,000 to 120 over roughly three years as it automated more of its operations. CEO Robert Vis draws a hiring lesson from it, but the evidence is one company's account and a qualitative screen.
Reality
- Evidence35
- Adoption20
- Hype gap+30
- Incentives65
- Confidence60
Netflix plans to cut about 5% of its roughly 16,000 full-time staff, around 800 jobs, as soon as next week, Puck News reported. The cut comes in a profitable year, and the teams that lose people will show whether Netflix is funding new bets or protecting its margin.
Perspective Coverage
7 publishers
- Builder
- Builder 8%
- Operator
- Operator 39%
- Investor
- Investor 53%
Reality
- Evidence55
- Adoption
- Not scored
- Hype gap+10
- Incentives
- Not scored
- Confidence60
Disney is cutting about 300 jobs, mostly in HR and tech, according to CNBC's source, in the third round of layoffs since Josh D'Amaro became CEO in March. The cost programme has now reached the HR staff who administer it. The wider jobs data does not yet show other employers doing the same.
Reality
- Evidence55
- Adoption
- Not scored
- Hype gap0
- Incentives60
- Confidence60