3.6% COLA Announced, Netflix Layoffs and More of Today’s Top Money News
Written by
Gary Dudak
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Hello, folks! We’re back again with a daily rundown of some of the top financial stories out there. Gonna be honest, though — these stories aren’t very uplifting. However, if you’re a fan of news that includes percentages between 3% and 6%, you are in luck. Here you go.
The Big Lead: Social Security Cost-of-Living Adjustment Will Be 3.6% in 2027
The Social Security Administration has announced a 3.6% cost-of-living adjustment, or COLA, for 2027. This is the largest increase to benefits — which applies to both Social Security and Supplemental Security Income — since 2023, and is tied for the firth largest bump in 35 years. Read the full story here.
Business Spotlight: Netflix
Netflix is laying off roughly 6% of its workforce, which is about 1,000 employees. In a letter to staff, co-CEOs Ted Sarandos and Greg Peters said the layoffs were the result of “making focused choices across the business so we can keep delivering for our members, partners, employees, and investors.” It’s the media company’s biggest layoff to date.
Be Aware: The Hidden Risks of Bandwidth Sharing
According to survey research on residential proxies, 29% of U.S. consumers say that at some point, they have installed an app offering rewards, money, or free features in exchange for sharing unused bandwidth. But only 33% of all respondents believe that an app that “shares your unused bandwidth” could create privacy or security risks. That means there are a lot of consumers installing software that may be riskier than they realize. Find out more here.
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