Netflix to Cut Approximately 1,000 Jobs
Netflix announced it will eliminate about 1,000 positions, representing roughly 6% of its global workforce. The cuts will primarily affect teams in product, technology, legal, and human resources.
Netflix announced Tuesday that it will reduce its workforce by approximately 1,000 employees, marking the company's largest layoff round since 2022. The cuts represent about 6% of the company's worldwide staff.
The reductions will largely impact employees within the product, technology, legal, and human resources departments. Co-CEOs Ted Sarandos and Greg Peters stated in an internal memo that the company is being disciplined in its prioritization of people and resources.
Netflix remains on track to meet its full-year financial forecasts, according to the memo, ahead of the company's quarterly earnings report. These layoffs follow recent comments from Sarandos expressing concern about the pace of Netflix's growth, despite ongoing investments in advertising, live programming, and gaming.
The move comes amid broader workforce reductions in the media industry, with competitor Disney also recently cutting around 300 jobs.