Netflix is laying off approximately 1,000 employees, representing about 6% of its global workforce, according to The Wall Street Journal. This marks the company's largest round of job cuts since 2022, when roughly 450 employees were let go. The layoffs come despite Netflix reporting strong financial performance, with $45.2 billion in revenue for 2025.
The company's total worldwide workforce stood at around 16,000 last year. Netflix co-CEOs Ted Sarandos and Greg Peters communicated the decision in a company-wide email, emphasizing the need for disciplined prioritization of people and resources to support long-term goals. They affirmed that the business remains strong and on track to meet its full-year forecast, with continued investment planned in high-impact areas.
The restructuring follows Netflix's withdrawal from its bid to acquire Warner Bros. earlier in the year and recent price increases for consumers. Despite these challenges, Netflix continues to expand its entertainment offerings into gaming, podcasts, and live sporting events, signaling a strategic shift beyond traditional streaming.
Source: Engadget · Summarized by HeadlinesBriefing