(KRON) -- Netflix is cutting 1,000 jobs, roughly 6% of its workforce, KRON4 has confirmed. That marks the biggest round of layoffs for Netflix since 2022.
According to an email to employees, the majority of the cuts will be in the company's streaming giant's product, tech, legal and human resources teams.
"Our mission -- to entertain the world -- is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources," said Netflix chief executives Greg Peters and Ted Sarandos in the email.
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The latest round of layoffs come amid reports that the company's subscriber and revenue growth have slowed. Even existing subscribers are reportedly finding the platform less engaging, with Bloomberg reporting a rise in viewers abandoning Netflix shows after just one season.
The streaming industry as a whole is facing increasing headwinds amid increasing competition from platforms like YouTube, TikTok and Instagram. A recent report from Emarketer indicated that digital and social media platforms were on track to overtake streaming platforms like Netflix for user engagement.
Netflix is headquartered in Los Gatos. The company had 16,000 full-time employees at the end of 2025, according to a filing with U.S. Securities and Exchange Commission.
News of the layoffs comes on day after Netflix landed the Spanish broadcast rights to the 2030 World Cup.
