Netflix Lays Off 6% of Employees, Eliminating About 1,000 Jobs Globally Amid Slowing Growth

New Delhi: Netflix has cut around 1,000 jobs globally, equivalent to approximately 6% of its workforce, in its biggest round of layoffs since 2022. The job cuts primarily affect the streaming giant’s product, technology, legal and human resources departments, according to reports.

The decision was communicated to employees through an internal email from Netflix co-CEOs Greg Peters and Ted Sarandos on Wednesday, October 14. The announcement comes as the company faces intensifying competition for viewers and concerns over its ability to sustain growth.

“Our mission - to entertain the world - is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources,” the executives said in the email, according to reports.

The co-CEOs maintained that the company’s business remained strong despite the workforce reduction. They said Netflix would continue investing in areas expected to have a significant impact on its service and growth.

“Our business is strong and growing, and we remain on track to deliver our full-year forecast,” the executives said.

Netflix had approximately 16,000 full-time employees worldwide at the end of 2025, according to company filings. The latest reduction represents a significant workforce adjustment for the streaming platform, which has sought to expand its business beyond traditional subscription-based entertainment.

Netflix Faces Competition For Viewer Attention

The layoffs come amid growing competition from established entertainment companies and digital platforms, including YouTube and TikTok. These platforms compete for audiences through video content and other offerings, putting pressure on subscription-based streaming services to retain viewers and increase engagement.

Viewer engagement, which measures the time audiences spend watching content, has become an important consideration for investors assessing Netflix’s growth prospects.

According to reports, Netflix recorded more than 97 billion hours of viewing in the first half of 2026, marking a 2% increase from the same period a year earlier. The company has described engagement as healthy, while continuing to explore ways to expand its audience and strengthen its business.

Netflix has been pursuing several initiatives to diversify its offerings and generate additional revenue. These include expanding its advertising-supported subscription tier, investing in live programming and gaming, and exploring new content formats such as video podcasts.

The company has also been experimenting with partnerships that bring additional programming to its platform. In June, Netflix announced a partnership with French broadcaster TF1 to provide subscribers in France access to its linear channels and on-demand content.

However, the streaming giant continues to rely heavily on subscriptions even as competition for audiences intensifies.

Layoffs Come Ahead Of Quarterly Results

The workforce reduction comes shortly before Netflix is scheduled to announce its third-quarter financial results on October 20. The upcoming earnings report will provide investors with a fresh assessment of the company's performance and growth outlook.

Netflix shares have faced pressure in 2026, with Reuters reporting that the stock had fallen approximately 25% during the year as of October 14. Investors have been monitoring the company’s ability to maintain growth and strengthen its position in an increasingly competitive entertainment market.

The company has continued to report revenue and profit growth. In the second quarter of 2026, Netflix reported revenue of approximately $12.56 billion, an increase of 13% compared with the same period last year.

The company’s leadership has nevertheless acknowledged that growth has not been as fast as desired. The latest layoffs reflect an effort to prioritise resources while continuing to invest in areas considered important for the platform’s future.

Biggest Layoff Round Since 2022

Netflix’s latest job cuts mark its largest round of layoffs since 2022, when the company eliminated hundreds of positions following its first subscriber decline in more than a decade.

In May and June 2022, Netflix reduced its workforce by approximately 450 employees across two rounds of cuts. At the time, the company cited slower revenue growth and the need to align spending with its business performance.

Since then, Netflix has expanded its offerings beyond films and television series, investing in advertising, gaming, live events and new forms of programming to strengthen its appeal to subscribers.

The latest reduction signals another workforce adjustment as the company balances investment in new initiatives with the need to allocate resources carefully.

Despite the cuts, Peters and Sarandos said Netflix would continue investing in areas that could improve its service and support growth. The company has maintained that it remains on track to meet its full-year financial forecast.

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