Netflix said it will eliminate about 1,000 jobs worldwide, or roughly 6% of its workforce, in its largest round of cuts since 2022.
The reductions will primarily affect human resources, legal, product and technology teams, according to a staff memo from co-chief executives Greg Peters and Ted Sarandos. Sarandos said last month that Netflix was “not growing as fast as I want us to.”
In the memo, Peters and Sarandos said the company would continue investing in areas intended to improve its service and support growth and innovation. The announcement comes as streaming companies face competition from other platforms and industry consolidation, the BBC reported.