Source: BBC News [UK state media]
“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) merger with Warner Bros, the owner of HBO, while free platforms such as YouTube and TikTok continue to attract viewers. 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’.” (10/14/26)