Netflix to lay off 1,000 staff in steepest cuts since 2022

Netflix has said it will cut 1,000 jobs globally as the streaming giant faces competition from rivals. The cuts - the steepest since 2022 - will mainly affect its human resources, legal, product and technology teams and equates to around 6% of its total workforce. Last month, Netflix's co-chief executive, Ted Sarandos, told the Bloomberg Screentime summit that the company was not growing as fast as I want us to. The streaming industry is going through a period of consolidation following Paramount's $110bn (£83.6bn) In an email to staff, Sarandos and co-chief executive Greg Peters said Netflix would continue to invest aggressively in high-impact areas to improve our service and further drive growth and innovation.