Netflix is laying off about 1,000 people, roughly 6% of its workforce, the company confirmed to TechCrunch. The Wall Street Journal reported the cuts first, citing an internal memo. It's the streamer's largest round of job cuts since 2022.
Most of the roles sit in product, tech, legal, and human resources. Co-CEOs Ted Sarandos and Greg Peters told staff the company still plans to "invest aggressively in high impact areas" and says it remains on track for its full-year forecast. Netflix had about 16,000 full-time employees at the end of 2025.
The timing is rough. Paramount Skydance won the Warner Bros. Discovery bidding war earlier this year, and Netflix has been fighting YouTube and TikTok for attention while pushing ads, live sports, and gaming. Earnings land next week.
— via TechCrunch