Video streaming: Netflix is ​​cutting around 1,000 jobs

Netflix is ​​the clear number one in video streaming, but is growing more slowly than hoped. With the duo of Paramount and Warner, a strong rival is also emerging. Now there are job losses.

Netflix: The company is cutting around six percent of its jobs. Photo: Andrej Sokolow/dpa

Los Angeles. The video streaming market leader Netflix is ​​reacting to slower growth in its business with significant job cuts. Co-chief executives Greg Peters and Ted Sarandos announced the elimination of around six percent of jobs in an email to employees. According to the latest information, Netflix had around 16,000 employees at the end of last year. The cuts are likely to affect around 1,000 jobs.

Sarandos said at a conference appearance a few weeks ago that the company was growing more slowly than he would have liked. The service is the clear number one in the video streaming business with more than 325 million customer households according to the latest information at the end of 2025. However, user numbers are only published irregularly.

Last year, Netflix tried to take over the studio business of Hollywood veteran Warner Brothers, but was outbid by entertainment group Paramount. Paramount now wants to try to forge a strong rival for Netflix together with Warner's streaming service HBO Max.

According to the email published by the trade journal Variety, the cuts will affect, among other things, the areas of human resources, legal and technology. Peters and Sarandos also emphasized that Netflix would continue to invest in high-growth areas. However, you have to be disciplined and set priorities, they wrote. Netflix will present its current quarterly figures next week.

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