Netflix cuts 1,000 jobs as streaming competition intensifies and growth slows

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 the streaming giant faces slowing growth and increased competition in the streaming market.