Netflix to cut 1,000 jobs amid strategic shift

Netflix is planning to reduce its global workforce by approximately 1,000 positions, representing about six per cent of its staff. This marks the company’s largest round of job cuts since 2022. The reductions are expected to primarily affect roles in technology, product, legal, and human resources.

Co-chief executives Greg Peters and Ted Sarandos informed employees that the restructuring is part of a broader effort to reallocate funding and staff toward high-growth areas. The company is shifting its focus toward advertising, live sports, and gaming to diversify revenue beyond its traditional subscription model. This pivot includes investments in video podcasts, live television channels, and programming featuring YouTube creators.

Despite the layoffs, executives stated that the company remains on track to meet its full-year earnings forecast. The move follows previous workforce reductions in 2022 after a decline in quarterly subscriber growth.