Netflix to cut nearly 1,000 jobs amid slowing growth

Netflix is implementing substantial workforce reductions as the streaming platform grapples with slower subscription growth and increased competition. The company plans to eliminate nearly 1,000 positions, representing a significant contraction for the entertainment technology firm.

At the end of the previous financial year, Netflix employed approximately 16,000 people across its global operations. More than half of these employees were based in the United States, with the remainder distributed across international markets including South and Southeast Asia.

The layoffs underscore mounting pressures facing major streaming platforms, which have shifted from aggressive expansion to cost-reduction strategies. Netflix has been adjusting its business model in response to subscriber growth challenges and intensifying competition from rival streaming services.

The company has not disclosed specific details regarding which departments or regions will be most affected by the restructuring. Netflix joins several major technology companies that have announced workforce reductions over recent months as market conditions have tightened.

The reduction reflects broader industry trends as streaming services move toward profitability and sustainable growth models, moving away from the subscriber acquisition-focused strategies that characterised the sector's earlier expansion phase.