Netflix to Cut 1,000 Jobs as Streaming Competition Intensifies
Netflix plans to cut about 1,000 jobs, or roughly 6% of its global workforce, in its largest round of layoffs in four years. In an Oct. 14 memo to employees, co-CEOs Ted Sarandos and Greg Peters announced that the job cuts will primarily affect the company’s product, technology, legal and human resources teams. The streaming […]
Netflix announced it will reduce its global workforce by about 1,000 positions, representing roughly 6% of its workforce, in its largest round of layoffs since 2022. Co-CEOs Ted Sarandos and Greg Peters outlined the changes in an employee memo, stating the cuts primarily impacted product, technology, legal, and human resources teams.
The streaming giant aimed to reallocate resources to areas deemed critical for future growth. At the end of 2025, Netflix employed around 16,000 people worldwide. The executive team remains confident in the company's financial outlook, projecting it will meet its 2026 forecast despite initial underperformance in the third quarter.
The layoffs come amid intense competition from streaming platforms like Amazon Prime Video and Disney+. Netflix has been diversifying its revenue streams through advertising, gaming, and live programming, but faces pressure to enhance viewer engagement as audiences consume content across multiple platforms.
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