smashing subscriber numbers as well adding 7 million new users while the company's co-founder reid hastings steps down >> they are ready. that's driving the timing. i could not be happier >>> hello. welcome to the special coverage. it has been a huge week from the world economic forum so many topics from cybersecurity and what we are seeing on the economy. we cycled right back to the economics to close out the week. japanese core consumer inflation rose to a surge in december. that exceeded the target rate of 2% it could trigger the boj to lift rates from negative territory. there are fears wages may not rise enough after the prices rose 0.8%. goods prices jumped more than 7% we will continue the conversation on this as we cap off the week of coverage this morning. geoff is moderating a panel on the economic outlook with the imf leader and ecb leader and bank of japan governor and the french finance minister and larry summers. that is coming your way at 11:00 cet. steve spoke to the dutch prime minister and asked where he thinks the eu and u.s. relationship stands after the trip to see pres

employees netflix blowing away subscriber expeck takation expectations thanks to streaming hits and reid hastingsill step down if that's not enough, apple's suppliers could be at risk as the company shifts ever more toward producing components in-house we start with the alphabet and google layoffs joining us to break it all down is cnbc.com tech reporter jennifer alias and laura welcome, glad to have you with us laura martin of needham. jen, let's begin with you. tell us about the layoffs and what they hope to accomplish by doing it laura, i'm going to follow up with a rather pointed question for you. >> yeah, so, tyler, this is the company conducting a trim of the workforce. as you mentioned, 12,000, roughly 6% of the employee base. really, when you look at the context of the numbers, while the number looks big, comparatively to how it's been hiring over the last couple of years, this is not much compared to what it's hired, even over the course of a quarter. so this is the company definitely making a trim i think what they hope to accomplish with this is what ceo said they overhired during the

netflix announcing that reid hastings is giving up his role as ceo breaking. >>> breaking overnight genesis filing for bankruptcy protection making it the latest following the implosion of sam bankman-fried's ftx. genesis owes more than $3 billion, including $900 million to customers for gemini. >>> the faa says a third party contractor is responsible for the safety systems outage that grounded all domestic flights for hours. the agency which declined to identify the contractor says staffers were working on the system when certain files were unintentionally deleted. the faa says steps have been taken to prevent a similar outage in the future dom. >> thank you, silvana. >>> officials from the fed are getting in the last licks before the central bank begins the pre-meeting quiet period they go hush at that point speaking last night, new york fed president john williams is saying the rate hikes are keeping inflation expectations in check there is still a way to go that echo comments from fed vice chair lael brainard who supports the pace of rate hikes to the traditional 25 basis points at the

reid hastings stepping down as co-ceo. he'll still be the board chairman. he mailed himself a music cd to see if the post office would damage it. he didn't have any dvds and it worked and the rest is history. the company wanted to stay in santa cruz but needed to be closer to silicon valley. and this guy is trying to convince boat owners to try his new boating app, and, you know what, it's just not working. but this video shot by his daughter, she asked users to help blow up her dad's new app. he worked so hard on it and he just wants people to try it out. anywhere else in the world we would go, aah. we have enough app engineering watching us, oh, no, no. the data he will have to pay for with everyone downloading his app is going to be very expensive. he got it exposed to people. good intentions. >> thanks, scott. >>> federal agents are reporting the confiscation of more eggs at the u.s./mexico border. the director of field operations in san diego's border patrol tweeted a reminder to not bring eggs into the u.s. bird flu killed a large number of egg laying

. >>> reid hastings is stepping down as netflix co-ceo. hastings mailed himself a music cd from santa cruz to san jose to see if it was damaged. it worked and the rest is history. the company wanted to stay in santa cruz but came over the hill, just barely, to los gatos. this guy trying to convince boat owners to try his new boating app. it is not working. this video shot by his daughter. she put it on tiktok asking users to help blow up her dad's app. he worked so hard on it and just wants people to try it out, she said. and that did indeed work. now i can tell the story anywhere else in the nation, and we would all just go, aah, but there are enough engineers out there that, yes, data is not free. so dad -- when you download an app it's the app owner paying for the data, right? so dad probably has a very big bill, but it's still a sweet thought. we'll concentrate on the sweet. >> oh. thanks, scott. >> he's definitely saying oh. >>> 5:18 for you that morning. today women's world cup, nbc peacock will air the entire tournament live from au

last night people might find disturbing the co-founder reid hastings is chance transitioning to executiverating officer. the other co-ceo, what else? we learned that the launch of netflix ad support here is mostly complete and now they're ready for a big crackdown on past past wo password sharing they don't expect this move to be popular and there might be some elevated churn, in other words, people leaving but in the long term, it will force people free loading to set up their accounts here is the bottom line. all day we heard netflix catch fire because of the growth number thanks to the excellent slate of content in the fourth quarter and certainly did happen i think the real driver here is different after years of investing to grow the business, netflix is finally throwing off massive amounts of cash flow and free cash flow and the numbers are set to grow dramatically in 2023 and the bears said that could never happen in a market that's on sbsessed h cash flow is a game changer and i bet the stock can keep running. we need to go to mark in wisconsin, mark? >> caller: yeah, jim i've got