Netflix cuts around 1,000 jobs, 6 percent of global workforce

Streaming giant Netflix has announced the elimination of approximately 1,000 positions globally, representing roughly 6 percent of its total workforce. This decision, communicated to employees via an email from co-CEOs Greg Peters and Ted Sarandos, comes as the company navigates a period of slowing growth. The layoffs primarily affect staff within the product, technology, legal, and human resources departments.

According to reports from media outlets such as Bloomberg and The Wall Street Journal, this marks the most significant round of job cuts at the streaming service since 2022. Despite the workforce reduction, company executives stated that Netflix remains on track to meet its financial projections for the year. Prior to these cuts, the company employed approximately 16,000 individuals worldwide, with more than half of those staff members based in the United States.