Netflix Cuts 6% of Workforce in Largest Layoff Wave Since 2022

Netflix has announced its largest workforce reduction in years, eliminating approximately 1,000 positions, or 6% of its global staff.

In an internal memo, co-CEOs Ted Sarandos and Greg Peters informed employees that the reductions will primarily target the company's product, technology, legal, and human resources departments.

Leadership framed the difficult choices as a necessary step to maintain operational discipline and reallocate resources toward high-impact strategic priorities, such as live events, gaming, and ad-supported tier expansion, amidst intensifying competition from rivals like YouTube and TikTok.

While Netflix remains profitable and maintains a massive global subscriber base, the streaming pioneer faces mounting pressure from a maturing market and decelerating revenue growth.

Company executives emphasized that the cuts are intended to streamline organizational structure rather than signal immediate financial distress, keeping the business aligned with its broader forecast ahead of its upcoming quarterly earnings report.