Netflix announces layoffs and new Colombian historical series

Netflix is undergoing a significant corporate restructuring to address slowing growth rates. Co-CEOs Ted Sarandos and Greg Peters issued a memorandum announcing the elimination of approximately 1,000 jobs, representing 6% of the company's workforce. The layoffs will primarily impact the legal, product, technology, and human resources divisions. This marks the largest staff reduction for the company since 2022.

In addition to internal restructuring, Netflix is expanding its content slate with the upcoming series ‘Palacio’. Scheduled for release on November 6, the production will depict the 1985 siege of the Palace of Justice in Colombia by the M-19 guerrilla group, an event that resulted in approximately 100 deaths during military rescue operations.