GoKawiilNetflix cuts about 1,000 jobs, roughly 6% of workforce
Netflix confirmed it is laying off close to 1,000 employees, about 6% of its 16,000-person staff, with most cuts concentrated in product, technology, legal and human resources. Co-CEOs Ted Sarandos and Greg Peters told staff in an internal memo, first reported by The Wall Street Journal, that the company must be disciplined about prioritizing people and resources, while maintaining it remains on track to meet its full-year financial forecast.
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The cuts follow Netflix's failed bid to acquire Warner Bros Discovery's streaming and studio assets, which went to Paramount Skydance, suggesting the company may be resetting its cost structure after that setback. They also come as rivals like YouTube and TikTok gain ground in user engagement, which could be pushing Netflix to tighten operations even as it invests in ads, live sports, gaming and AI features to keep subscribers hooked.
- Netflix is cutting nearly 1,000 jobs, about 6% of its roughly 16,000 full-time staff.
- Product, tech, legal and HR departments are bearing the brunt of the layoffs.
- The move follows Netflix losing a bidding war for Warner Bros Discovery's streaming and studio assets to Paramount Skydance.
Source: techcrunch.com — Ram Iyer, 2026-10-14
Published there as: “Netflix to lay off 1,000 staff amid intensifying competition for user attention”
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