Netflix has joined the wave of mass layoffs sweeping through the tech industry, confirming that around 1,000 employees — roughly 6% of its global workforce — will be let go.

According to company officials, the teams hit hardest will be those working in product, technology, legal and human resources. In its official statement, Netflix stressed that it continues to invest aggressively in high-impact areas and that its goals for the year remain unchanged.

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Why now?

Co-CEOs Ted Sarandos and Greg Peters explained the reasoning in an internal message to staff: to fulfill the company's global entertainment mission, resources and priorities must be managed with discipline. In short, the company is cutting costs — and 1,000 people are paying the price.

Coming right after the Warner Bros. bidding war

The layoffs come immediately after Netflix lost a fierce bidding contest with Paramount Skydance for the studio and streaming assets of Warner Bros. Discovery. Netflix had seen major potential in the deal, spanning everything from HBO and a gaming division to TV networks and a vast studio library — but Warner Bros. ultimately went to Paramount.

Revenue-boosting efforts continue

Netflix has long been working to raise revenue per subscriber: it has raised subscription prices, expanded its ad-supported plan, and pushed into live events, sports, gaming and children's content. The company has also stood out with investments in AI-powered search, mobile app design and video podcasts. Netflix reported $45.2 billion in revenue for 2025 and said its advertising revenue had surpassed $1.5 billion.