Netflix Plans 6% Workforce Reduction in Major Job Cuts
· Business · The Independent, Fortune
Netflix plans to lay off approximately 6% of its workforce, amounting to nearly 1,000 positions, as part of wider organizational changes announced by Co-CEOs Greg Peters and Ted Sarandos on Wednesday. The cuts will primarily impact the company's product, tech, legal, and human resources teams. Despite reporting strong financial results in its second quarter with $3.4 billion in profit and $12.56 billion in revenue, Netflix's third-quarter forecast fell short of Wall Street expectations. The streaming giant ended 2025 with about 16,000 full-time employees worldwide, making this the largest round of layoffs at the company in years. The decision aims to reallocate resources toward future growth and service improvements amid rising competition in the streaming market.
Why it matters
The layoffs signal strategic restructuring at Netflix as the streaming giant seeks to prioritize resources amid heightened industry competition.
Read the original report — The Independent
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