Netflix is laying off approximately 1,000 employees, representing around 6 per cent of its workforce in its largest round of job cuts since 2022, according to an internal memo reviewed by Reuters. The layoffs, announced on Wednesday, will primarily affect the streaming company’s product, technology, legal and human resources teams. Co-chief executives Greg Peters and Ted Sarandos told employees that the company needed to prioritise its workforce and resources while continuing to pursue its business objectives.
The job cuts come as Netflix faces intensifying competition from traditional media companies and digital platforms such as YouTube and TikTok, which attract viewers with free, user-generated content. Investor concerns have also grown over user engagement and the company’s ability to sustain subscriber growth. Netflix shares have fallen around 25 per cent so far this year, although they rose 0.7 per cent on Wednesday. The company had approximately 16,000 employees at the end of 2025.
Netflix has been seeking to diversify its revenue streams through advertising, live programming and gaming as it looks beyond its traditional subscription model. The company’s unsuccessful attempt earlier this year to acquire Warner Bros Discovery’s streaming and studio assets also raised questions about its future strategy. Netflix’s previous major layoffs occurred in 2022, when it eliminated around 450 positions following its first subscriber decline in more than a decade.
