Netflix to cut about 1,000 jobs amid slower growth
Netflix will cut about 1,000 jobs, or 6 percent of its workforce, US media reported Wednesday, as the streaming platform experiences slower growth. The post Netflix to cut about 1,000 jobs amid slower growth appeared…
Netflix, the world's largest streaming service, built its growth over the past decade on aggressive subscriber expansion and heavy content spending, a model that helped it outlast rivals in the early streaming wars. In recent years, however, the company has faced a more saturated market, intensified competition from rivals like Disney+ and Amazon Prime Video, and investor pressure to show steadier profitability rather than just subscriber growth, prompting moves such as password-sharing crackdowns and an ad-supported tier.
The reported job cuts, affecting roughly 6 percent of staff according to US media, come as Netflix's revenue growth has been decelerating quarter on quarter. Both Vanguard and Channels TV cite the same wire report and figures — a 13.4 percent revenue rise in the second quarter versus 16.2 percent in the first — but neither outlet has yet detailed which departments or regions will be affected, or how the cuts fit into Netflix's broader cost-management strategy going forward.