Netflix to cut 1,000 jobs in largest layoff since 2022
The streaming company is reducing its workforce by 6% as it faces intensifying competition in the sector.
At a glance
- Netflix is cutting 6% of its workforce, roughly 1,000 employees
- This is the company's largest layoff since 2022
- Product, tech, legal and HR teams will be most affected
- The company faces competition from legacy media companies and YouTube
Netflix is laying off approximately 1,000 employees, representing 6% of its global workforce, according to an internal memo from co-CEOs Greg Peters and Ted Sarandos. The cuts are the largest since 2022.
The majority of redundancies will affect the product, technology, legal and human resources divisions. The company cited intense competition for viewers from traditional media rivals and YouTube as a factor in the decision.
Why it matters
The cuts reflect mounting pressure on streaming services as competition intensifies and viewer engagement becomes harder to sustain in a crowded market.
Original reporting
- The Guardian — BusinessNetflix to lay off about 1,000 employees in biggest cuts since 2022
- BBC News — EntertainmentNetflix to lay off 1,000 staff in steepest cuts since 2022
- BBC News — WorldNetflix to shed 1,000 jobs in steepest cuts since 2022
This brief was written with AI assistance from the reports listed above and checked against our editorial policy. Spotted an error? Request a correction.