Netflix plans to cut about 1,000 jobs, which is approximately 6% of its staff. The reason for this is the slowdown in the company's business growth. This was stated in an email that platform executives Greg Peters and Ted Sarandos sent to employees on October 14.
At the end of last year, Netflix employed about 16,000 people. It is expected that the cuts will affect, in particular, human resources, legal, and technology departments.
A few weeks ago, Ted Sarandos admitted at a conference that the company is growing slower than he would like. Despite this, Netflix still remains the clear leader in the video streaming market. According to the latest data, at the end of 2025, more than 325 million households used its services. Currently, the company publishes the number of subscribers only occasionally.
Netflix executives emphasized that the company will continue to invest in areas with high growth potential, but will also be forced to set priorities more strictly and control costs.
Last year, Netflix attempted to acquire the film production business of Hollywood company Warner Bros., but lost out to media group Skydance, which offered a higher price.
Now, Skydance aims to create a strong competitor to Netflix by combining its own streaming platform Paramount+ with the Warner-owned HBO Max service.
Next week, Netflix is expected to publish its performance results for the last quarter.
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