Netflix Cuts 6% Of Workforce As Revenue Growth Slows
· Business · CBS News, Fortune
Netflix is laying off roughly 6% of its workforce, impacting approximately 1,000 positions globally across its product, technology, legal, and HR departments. Co-CEOs Ted Sarandos and Greg Peters announced the cuts in an employee memo, noting that the company remains on track to fulfill its full-year forecast. The layoffs mark the streaming giant's largest workforce reduction since 2022, following a period of slowed growth in a saturated North American market and mounting competition. Netflix reported having around 16,000 full-time employees in a December 2025 securities filing. Company shares traded just below $70 each and have fallen nearly 43% over the past 12 months.
Why it matters
The layoffs signal a broader belt-tightening among major streaming platforms as subscriber growth moderates and competition intensifies globally.
Read the original report — CBS News
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