Netflix Layoffs: Is Q4 Another Bloodbath?

So, the news is out about another round of layoffs at Netflix, apparently around 700 employees this time, effective August 14th according to some reports. Fox Business is citing the source. This is wild. I've been seeing some rumblings internally but nothing concrete until now. It feels like this is becoming a regular thing, almost quarterly now. Last year it was after the Q2 earnings, before that it was in the spring. Now this late summer report. It makes you wonder what the strategy is. Are they just bleeding talent to cut costs, or is there a bigger structural shift happening? The memo from last year about 'misalignment and indecision' still sticks with me. Is that still the narrative internally, or has it evolved? Anyone in the know have more context on the divisions affected or the reasons behind this specific cut? It's tough to see so many people impacted, especially with the holidays approaching again soon enough. Feels like a constant state of anxiety.