Netflix to Cut 1,000 Jobs, 6% of Workforce

Netflix is cutting about 1,000 jobs, or roughly 6% of its global workforce, in its largest layoff round since 2022. Co-CEOs Ted Sarandos and Greg Peters said the reductions will primarily affect product, technology, legal and human resources teams. The company remains on track to meet its full-year earnings forecast and will continue investing in areas it considers high-impact. The cuts come amid slowing growth, signs of softer viewer engagement and a steep fall in Netflix’s share price. Netflix has been expanding into live programming, sports, video podcasts, creator content and bundling to attract and retain viewers. The announcement came shortly before the company’s scheduled quarterly results.