From Financialexpress · FE News Desk · · 1m 10s
Netflix cuts 1,000 jobs amid slower growth
Netflix lays off 1,000 employees as growth slows and competition rises.
In brief
Netflix lays off 1,000 employees as growth slows and competition rises. Netflix plans to cut 1,000 jobs to address slower growth and rising competition in the streaming market. Originally reported by Financialexpress.
Netflix job cuts
Netflix will lay off around 1,000 employees, about 6% of its workforce.
Executives explain cuts
Co-chief executives Ted Sarandos and Greg Peters wrote in an email that their mission requires disciplined resource allocation.
Growth slowdown
Netflix reported slower growth in viewing time and faces rising competition from YouTube and streaming rivals.
Competitor threats
Paramount and Warner Bros. Discovery may combine to create a stronger competitor for Netflix.
Content struggles
Netflix has struggled to produce major hits like Stranger Things and Squid Game.
Earnings timeline
The job cuts come ahead of Netflix's quarterly earnings report on October 20.
Subscribers and retention
Netflix reported over 97 billion hours of content watched in the first half of 2026 with low US cancellation rates.
Previous layoffs
Netflix cut 150 jobs in May 2022 and 300 in June 2022 during slower revenue growth.
What matters most
Netflix plans to cut 1,000 jobs to address slower growth and rising competition in the streaming market.
