American Netflix Inc., the world's largest subscription streaming video service, is cutting around 1,000 jobs — about 6% of the company's workforce. The Wall Street Journal reported this, citing an email that co-CEOs Greg Peters and Ted Sarandos sent to employees.
According to the publication, these layoffs will be the largest since 2022.
"Our mission — to entertain the world — is ambitious, and delivering on it requires us to be disciplined in how we prioritize our people and resources," the email to employees said.
The decision to lay off staff was made amid fierce competition for user attention in the media market. The bulk of the cuts will affect divisions responsible for product development, technology, legal affairs and human resources.
At the end of 2025, Netflix employed about 16,000 full-time staff.
Since the start of 2026, Netflix's market capitalization has fallen by almost 25% (to $293 billion), while the Nasdaq Composite index has gained more than 16%.
