Memo: Netflix is cutting 6% of its staff, or ~1,000 jobs globally across product, tech, legal, and HR, its biggest layoffs since 2022, amid slowing growth (Wall Street Journal)
Job cuts affect about 1,000 positions and come as the company struggles with slowing growth — Netflix is cutting 6% of its staff …
Netflix is reducing its workforce by about 1,000 employees, or roughly 6% of its staff, the company disclosed to TechCrunch. The cuts primarily impact departments dealing with products, technology, legal matters, and human resources. In a statement, Netflix affirmed its commitment to invest heavily in high-impact areas to further enhance its service.
The company reported having 16,000 full-time employees as of the conclusion of last year, according to its annual regulatory filing. The Wall Street Journal broke the news, citing an internal memo sent to employees by co-CEOs Ted Sarandos and Greg Peters. The memo emphasized that while Netflix's mission to "entertain the world" is ambitious, the company must remain disciplined in prioritizing personnel and resources.
The layoffs follow Netflix's defeat in a prolonged bidding war for Warner Bros Discovery's streaming and studio businesses, which were ultimately acquired by Paramount Skydance earlier this year. Originally, Netflix saw significant potential in Warner Bros assets, including its studios, HBO, streaming platforms, games, and TV networks such as CNN and HGTV.
Despite being the dominant TV app, Netflix has recently faced growing competition from platforms such as YouTube, TikTok, and Instagram for user attention. Market research indicates that social apps like TikTok are now on par with Netflix in terms of user engagement, while YouTube has reportedly surpassed Netflix in average daily viewing time by 2025.
To counteract this competition, Netflix has been striving to maximize the value derived from its subscribers by raising prices, expanding its ad-supported tier, and investing in live events, sports, gaming, children's programming, AI-supported features, gaming, video podcasts, and short-form video content. Additionally, the company has redesigned its mobile app to compete more effectively with social media platforms. In 2025, Netflix achieved a revenue of $45.2 billion, with ad revenue surpassing $1.5 billion.
Written by urgent.news from TechCrunch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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