In one of the biggest job cuts since 2022, Netflix plans to lay off about 6per cent of its workforce, amounting to nearly 1,000 positions. The layoff will impact company’s product, tech, legal and human resources teams. Co-CEOs Greg Peters and Ted Sarandos announced the job cuts in an internal memo seen by AP which read – “Decisions like these are never easy, and we don’t take them lightly.” “They maintained business was strong — but that Netflix needed to be “disciplined about where we prioritise our people and resources” as it invests in future growth and “high impact areas to improve our service.”
What made Netflix to announce layoff
Between membership signups and price increases, Netflix’s profit has grown this year. In its second financial quarter, the company earned USD 3.4 billion and racked up revenue of USD 12.56 billion — up 9 per cent and 13 per cent, respectively, from the same period last year. Still, Netflix’s forecast for the third quarter fell below Wall Street’s expectations. The company plans to report those earnings next week.
Competition in the streaming space is growing more crowded overall. Netflix continues to be a dominant player (accounting for 19 per cent of the market per the latest data from streaming guide JustWatch), but rivals like Amazon’s Prime Video and Disney+ are close behind.
More story on job cuts: Amazon layoffs to hit India before Diwali
Just before Amazon Great Indian Festival 2026 went live, the E-commerce giant has cut 1,000 jobs globally with employees reportedly got affected in India. The latest round of job cuts is going to impact around 1,000 employees in retail unit across India before Navaratri and Diwali. As per reports, the primarily affected areas will be Stores unit which oversees the main e-commerce website.
In the termination mail which is going rounds on social media, the E-commerce giant said, “After a thorough review of our structure and priorities and what we need to focus on going forward, we have made the hard business decision to eliminate a number of roles across your organisation.” Meanwhile, Amazon has announced a compensation structure for the terminated employees. “A non-working period with your full pay and benefits, based on your current employment status. A severance package and transitional benefits, which may vary by country and employment status,” read the mail.
The recent layoff are in a series of job cut which started last year and continued into January. Last year, the E-commerce giant has cut around 30,000 jobs in various divisions.
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