Netflix cuts 1,000 jobs amid intensifying streaming competition and slowing growth

Netflix is eliminating approximately 1,000 positions, representing about 6% of its global workforce, in its largest round of layoffs since 2022. The cuts, announced on October 14, 2026, primarily affect employees in product development, technology, legal, and human resources. This restructuring comes as Netflix faces increased competition and slowing growth, despite remaining highly profitable with over 325 million subscribers.