Netflix to Lay Off 1,000 Staff as Competition for User Attention Intensifies
· Business · TechCrunch, Indian Express
Netflix is cutting approximately 6% of its workforce, impacting roughly 1,000 employees globally in its largest staff reduction since 2022. Co-CEOs Ted Sarandos and Greg Peters stated in an internal memo that the layoffs will primarily affect the product, technology, legal, and human resources departments. The streaming giant faces mounting competition from social media platforms such as TikTok, YouTube, and Instagram for user engagement. Despite the cuts, the company confirmed it remains on track to meet its full-year financial forecast. Netflix reported revenue of $45.2 billion in 2025 and ended that year with 16,000 full-time employees.
Why it matters
The job cuts signal a broader shift in the streaming sector as traditional entertainment companies scale back operations to counter rising competition from free social video platforms.
Read the original report — TechCrunch
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