New Delhi, Oct. 10 -- Netflix Inc. is planning to cut around 5% of its workforce as early as next week, according to a report by the newsletter Puck.

A spokesperson for the streaming giant declined to comment on the reported job cuts, news agency Bloomberg said.

Netflix had approximately 16,000 full-time employees at the end of last year, with 68% of its workforce based in the US, according to a regulatory filing.

Netflix shares have fallen about 42% since the company began pursuing Warner Bros. Discovery Inc. Investors viewed the proposed deal for the rival entertainment company as a sign of weakness, given Netflix's historical reluctance to pursue large acquisitions, noted Bloomberg.

Warner Bros. Discovery was acquired this week by ...