Business / NEWS UPDATE
Netflix to shed 1,000 jobs in steepest cuts since 2022
Published · Updated October 16, 2026 · 1 min read
Netflix plans to cut 1,000 jobs, approximately 6% of its global workforce, as it faces increased competition from rivals like YouTube and TikTok.
The cuts, the steepest since 2022, will primarily affect HR, legal, product, and technology teams. Despite the layoffs, the company will continue to invest in high-impact areas to drive growth and innovation. Netflix's co-CEOs stated that the changes are necessary to prioritize resources and achieve their ambitious mission. The firm is set to report its latest financial results on October 20th.