Netflix has a problem layoffs can't solve

Netflix co-CEO Ted Sarandos has guided the streamer through growth concerns before. Can he pull it off again? Bloomberg/Getty Images Netflix has responded to a slumping stock price by cutting 6% of its staff. The streamer has dealt with growth concerns before and bounced back. This time around could be different: Netflix's big worry isn't other streamers like HBO, but mega tech platforms like YouTube and TikTok. The good news for Netflix: It's been here before. In 2022, after years of breakneck growth and go-go spending, the streamer suddenly lost subscribers. Cue layoffs, a hasty pivot to an ad model it had always criticized, and tons of industry schadenfreude . But it turned out that Netflix's growth problems were overstated. Or at least, that its growth problems weren't a sign of opportunity for its streaming rivals.