Netflix cuts about 1,000 jobs, or 6% of its workforce
What's next: The cuts land days before Netflix reports earnings on Oct. 20 as investors watch growth and viewing time.
Netflix is cutting about 1,000 jobs worldwide, or roughly 6% of its workforce, in its biggest round of layoffs since 2022. The reductions will fall mainly on product, technology, legal and human resources teams, according to an internal memo cited by CNBC and the BBC. The move comes less than a week before the streaming company reports quarterly results on Oct. 20. Netflix told staff it remains on track to meet its full-year forecast and will keep investing in higher-impact areas. Even so, the company has been under pressure to revive growth as viewing time stagnates and rivals including YouTube, TikTok and a newly combined Paramount-Warner Bros. Discovery compete harder for audience attention.