Prince Harry, Meghan Markle Lay Off 25 Staff Amid Financial Cutbacks

Prince Harry and Meghan Markle have been reducing their staff significantly, reportedly laying off around 25 employees since moving to the U.S. in 2020, as part of efforts to cut costs amid financial pressures. The couple has transitioned from employing in-house communication professionals to contracting with a PR agency to save money, reflecting broader financial adjustments following changes in their Netflix deal, which is expected to be renegotiated at a lower rate amid industry shifts. Their expensive lifestyle, including a $14.65 million mortgage on their Montecito home and an annual $2 million security bill, adds to their financial strain. Despite successful projects like the "Harry & Meghan" docuseries, other ventures have not performed as well, and the couple faces criticism and internal family tensions, including negative reactions to Meghan’s recent business moves. The financial realities for Harry and Meghan mirror wider industry trends, as Netflix moves toward reducing upfront payments to talent in favor of backend incentives. Overall, their staff downsizing and cost-saving measures appear to be strategic responses to evolving professional and economic challenges.