1602 ET - Netflix's recent round of layoffs will weigh on the streamer's margins. The company guides for a fourth-quarter operating margin of 26.0%, including a roughly 120 basis point impact from the layoffs. Netflix also updates its full-year margin guide to reflect a roughly 30 basis point negative impact. The layoffs, announced last week, are expected to impact around 1,000 positions in Netflix's product, tech, legal, and HR teams. "These organizational changes enable us to continue to aggressively invest in high impact areas to improve our service, and drive growth and innovation," the company says.
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