Netflix is cutting roughly 1,000 jobs, equivalent to 6% of its global workforce, in its largest round of redundancies since 2022.
The streaming company’s co-chief executives, Greg Peters and Ted Sarandos, announced the cuts in an internal memo sent to staff on Wednesday. Product, technology, legal and human-resources teams are expected to be most affected.
The job losses form part of wider organisational changes as Netflix faces increasing competition for viewers from established streaming services and platforms including YouTube and TikTok. The company had about 16,000 full-time employees worldwide at the end of 2025.
“Decisions like these are never easy, and we don’t take them lightly,” Peters and Sarandos wrote in the memo.
They said Netflix’s business remained strong and that the company was on course to meet its full-year forecast, but added that it needed to be “disciplined about where we prioritise our people and resources”.
Netflix cuts jobs as streaming competition intensifies
The redundancies come despite a rise in profits and revenue during the second quarter. Netflix reported earnings of $3.4 billion and revenue of $12.56 billion, increases of 9% and 13% respectively compared with the same period a year earlier.
However, the company’s forecast for the third quarter was below Wall Street expectations. Netflix is due to publish its latest quarterly results on 20 October.
Investor attention has increasingly focused on the amount of time viewers spend on Netflix as free-to-watch services, social media and rival streaming platforms compete for people’s attention.
Netflix has been investing in advertising, live programming, gaming and other features as it seeks to increase engagement and expand beyond its traditional subscription model.
The company’s previous major round of job cuts came in 2022, when it eliminated about 450 positions after reporting a fall in subscribers for the first time in more than a decade. ([apnews.com](https://apnews.com/article/2290c8472a155adb9c4b85fdc885bc7e))
