Digest: Netflix Cuts 6% of Staff; Apple Gets Early Look at OpenAI Hiring Records

In today’s ExchangeWire news digest: Netflix cuts around 6% of its workforce as growth and engagement slow; Apple wins early access to OpenAI’s hiring records in its trade secrets case; and UK marketing budgets hit a two-year high in Q3

AI · Netflix’s restructuring amid slowing growth and the rebound in UK marketing budgets signal shifts in market conditions and spending priorities.

Netflix cuts 6% of staff

Netflix is laying off about 6% of its workforce, roughly 1,000 jobs worldwide, in its largest round of cuts since 2022. Co-CEOs Greg Peters and Ted Sarandos told employees in an email on Wednesday that most of the reductions will affect the product, technology, legal and human resources teams, while the company continues to invest in high-impact areas.

The cuts follow slower growth and flagging engagement, and Netflix shares have fallen by more than 40% over the past year. The announcement comes a week before its next quarterly earnings report, and the executives said the company remains on track to meet its full-year forecast.

UK marketing budgets reach two-year high

British companies raised their marketing budgets in the third quarter at the fastest pace in more than two years, according to the IPA Bellwether Report. A net balance of +14.3% of firms increased spending (25.6% raised budgets, 11.3% cut them), the third consecutive quarterly rise and the strongest reading since Q2 2024. This compares with a projected net balance of just +3.0% for 2026/27.

All seven tracked categories grew, led by public relations at +15.3%, a series high, followed by events at +15.1% and sales promotion at +13.1%. Main media advertising rose to +9.8%, with all five of its subcategories growing for the first time since the data was broken down in 2020. S&P Global Market Intelligence has raised its 2026 UK GDP growth forecast to 1.2% from 0.6%, and its 2026 adspend growth forecast to 2.8%, though it expects ad spend growth to slow to 1.3% in 2027.

Apple gets early look at OpenAI hiring records

A federal judge has granted Apple fast-track access to parts of OpenAI’s evidence in the trade secrets lawsuit Apple filed in July. The centrepiece is OpenAI’s paperwork from interviewing former Apple employees for roles in its consumer hardware and robotics groups. OpenAI has five days to hand over what it has already gathered and 14 days for the rest. Judge Edward Davila also cleared Apple to see private LINE messages exchanged among people named in the case, including OpenAI employees Chang Liu and Alyssa Peng, and approved early depositions of Liu, Peng and OpenAI chief hardware officer Tang Yew Tan, all former Apple staff.

The ruling was a partial win for Apple. Davila refused to speed up access to OpenAI’s research and development in areas such as metal finishes and power management, and turned down several broader requests, including ones for OpenAI’s hardware research. Apple’s complaint alleges former employees downloaded confidential files on unannounced products, and that ex-Apple staff at OpenAI coached prospective recruits on what information to bring to interviews.