Netflix prepares layoffs affecting about 5% of staff ahead of Q3 results

Netflix is preparing to cut about 5% of its workforce, with an announcement possible as early as next week, Puck reported on Friday, citing people familiar with the plans.

Netflix had about 16,000 full-time employees at the end of last year, so a cut of that size would affect roughly 800 people.

The report comes three months after a soft third-quarter forecast sent its shares down 9%, and less than two weeks before it reports results on October 20.

Puck…