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Netflix lays off 1,000 staff
Netflix plans to lay off around 1,000 employees, approximately 6% of its workforce, in the largest job cuts since 2022, despite posting a profit of $3.4 billion in the second quarter of 2026. This move comes amid increasing competition from platforms like Amazon Prime Video and Disney+, as well as a slowdown in growth projections, with a focus on reallocating resources toward the most impactful areas of the platform's future. The company indicates that the layoffs will primarily affect departments such as product, technology, legal affairs, and human resources, and are part of its strategy to control expenses and direct investments toward growth priorities. Despite rising revenues to $12.56 billion, third-quarter forecasts fell short of Wall Street estimates.
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