Netflix Cuts 1,000 Jobs Amid Intensifying Streaming Competition

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 product development, technology, legal, and human resources teams, as the company faces slowing growth and increased competition in the streaming market. This restructuring highlights the pressure on streaming giants to control costs and prioritize resources despite strong profits.