Netflix is cutting roughly 6% of its workforce, with around 1,000 jobs expected to be affected globally in the company’s largest workforce reduction since 2022.
The layoffs will hit the streaming company’s product, technology, legal and human resources departments, according to a memo sent to staff by co-chief executives Ted Sarandos and Greg Peters.
“Our business is strong and growing, and we remain on track to deliver our full-year forecast,” the executives said. “We’ll continue to invest aggressively in high-impact areas to improve our service and further drive growth and innovation.”
They added that doing so meant “making focused choices across the business” to continue delivering for members, partners, employees and investors.
Netflix declined to comment further on the planned job cuts.
The company had roughly 16,000 full-time employees as of December 2025, according to a securities filing.
Netflix remains highly profitable, but its growth has slowed in recent years amid increasing competition from other streaming platforms and a saturated North American market.
Its shares were trading at just below 70 US dollars each on Wednesday, having fallen by nearly 43% over the previous 12 months.
