Netflix to cut 1,000 jobs globally amid slowing subscriber growth

Netflix announced that it will eliminate 1,000 positions worldwide, representing roughly 6 % of its total workforce. The cuts, described as the steepest since 2022, will primarily affect the company’s human‑resources, legal, product and technology teams.

The decision was communicated to staff in an email from co‑chief executives Ted Sarandos and Greg Peters. In the message, the executives said the company will “continue to invest aggressively in high‑impact areas to improve our service and further drive growth and innovation,” while also emphasizing the need to be “disciplined about where we prioritise our people and resources” in order to fulfil its mission to “entertain the world.”

Sarandos had earlier told the Bloomberg Screentime summit that Netflix was “not growing as fast as I want us to,” a comment that underscores the broader competitive pressures facing the streaming sector. Industry consolidation is accelerating, highlighted by Paramount’s $110 billion (£83.6 billion) merger with Warner Bros., the owner of HBO. At the same time, free platforms such as YouTube and TikTok continue to draw viewers away from subscription services.

Netflix had reportedly been close to striking a deal with Warner Bros., but was ultimately outbid by Paramount in the merger process. The company said it remains on track to meet its financial forecasts despite the workforce reduction.

Managers will inform affected employees of their status “soon,” according to the internal communication. Netflix is scheduled to release its latest earnings results on 20 October.