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Netflix to Lay Off About 6% of Workforce and Stocks Fall Amid Inflation Concerns

CNBC ·

NFLX Netflix Inc
$70.57 +0.16%
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  1. 1The S&P 500 and Nasdaq Composite indices fell more than 1% yesterday.
  2. 2Netflix plans to lay off approximately 1,000 employees, representing about 6% of its workforce.
  3. 3The annual Consumer Price Index (CPI) figure recorded its 66th consecutive instance of exceeding the widely accepted 2% inflation target.

So what's the key point?

The S&P 500 and Nasdaq Composite indices fell more than 1% yesterday.

Source CNBC · View original ↗

Related 3-line summaries

Netflix reports 1,000 layoffs; co-CEOs emphasize resource allocation discipline Stocktwits +1 · 11h agoOver 25% of S&P 500 components have fallen more than 40% from their highs The Motley Fool +1 · 11h agoNetflix Announces Layoff of Approximately 6% of Workforce CNBC · yesterday
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