Netflix plans to cut about 1,000 jobs, around 6% of its employees. The company’s co-CEOs Greg Peters and Ted Sarandos have announced that the cuts are linked to organizational changes.
They will mainly affect the product development, technology, legal and human resources divisions. The company’s executives noted that the business continues to remain strong, but it is necessary to distribute employees and resources effectively for future growth and the improvement of services.
The cuts are taking place amid intensifying competition in the streaming services market. Although Netflix’s profit in the second quarter of 2026 reached 3.4 billion dollars, growing by 9% compared with the same period last year, the company’s third-quarter forecasts did not meet Wall Street’s expectations. At the end of 2025 Netflix had about 16,000 full-time employees worldwide. The new cuts are the company’s largest in recent years.
