Netflix is laying off about 6% of its workforce, or close to 1,000 people, the company confirmed to TechCrunch. Most of the cuts will affect its product, technology, legal and human resources departments.
The company said it would “continue to invest aggressively in high impact areas” to improve its service and was on track to deliver its full-year forecast. Netflix had 16,000 full-time employees at the end of last year, according to its annual regulatory filing.
The Wall Street Journal first reported the layoffs, citing an internal memo. It quoted co-CEOs Ted Sarandos and Greg Peters as saying the company’s mission to entertain the world requires discipline in how it prioritizes people and resources.
The cuts follow Netflix’s failed bid for Warner Bros. Discovery’s streaming and studio businesses, which went to Paramount Skydance earlier this year. Netflix has also faced growing competition for viewers’ attention from YouTube, TikTok, Instagram and other social apps. Market research reports cited in the source say TikTok is catching up in user engagement, while YouTube reportedly surpassed Netflix in average daily viewing in 2025.
Netflix has expanded its ad-supported tier and invested in live events, sports, gaming and children’s programming. In 2025, it reported revenue of $45.2 billion and said advertising revenue had risen to more than $1.5 billion.
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