Los Gatos, California, October 15 (TNA) Netflix is cutting about 1,000 jobs, equivalent to roughly 6% of its global workforce, in the streaming company’s largest round of layoffs since 2022, as it faces intensifying competition and slower growth in the media market.
Netflix announced the job reductions internally on Wednesday in an email from co-chief executives Greg Peters and Ted Sarandos. Most of the layoffs will affect the company’s product, technology, legal and human resources teams.
“Our mission-to entertain the world-is ambitious, and delivering on it requires us to be disciplined about where we prioritise our people and resources,” Peters and Sarandos said in the memo. Netflix had around 16,000 full-time employees worldwide at the end of 2025, according to regulatory filings. The planned cuts would therefore affect approximately one in every 17 employees.
The layoffs come as Netflix competes for consumers’ time and subscriptions in an increasingly crowded and consolidated media market. The company has struggled to increase user engagement and maintain its previous growth rate.
Netflix co-CEOs said the company would continue to invest in high-impact areas aimed at improving its service, supporting innovation and driving future growth. The company has also said that its underlying business remains strong and that it is on track to meet its full-year forecast.
Earlier this year, Netflix lost a bidding contest for Warner Bros. Discovery’s streaming and studio assets to Paramount Skydance. The outcome underscored the intensifying competition among major media companies seeking to expand their streaming and entertainment businesses.
The latest job cuts mark Netflix’s most significant workforce reduction since 2022, when the company eliminated about 450 positions after reporting a decline in subscribers for the first time in more than a decade. Netflix’s shares have also come under pressure as investors assess slowing engagement and growth prospects. The company is now seeking to streamline operations while directing resources towards areas it considers central to future expansion.