Netflix is laying off around 1,000 of its staff, amounting to roughly 6 percent of its workforce, according to The Wall Street Journal. Netflix’s total number of worldwide employees stood at around 16,000 last year. It’s the company’s biggest round of cuts since 2022, a year in which around 450 employees were let go, and comes after Netflix backed away from its bid to acquire Warner Bros. earlier this year.

“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,” Netflix co-CEOs Ted Sarandos and Greg Peters wrote in a company-wide email quoted by the WSJ. “Our business is strong and growing, and we remain on track to deliver our full year forecast. We’ll continue to invest aggressively in high impact areas to improve our service and further drive growth and innovation.”

In order to reach its growth targets, Sarandos and Peters also said the company had to make “focused” choices. Despite ultimately losing out to Paramount Skydance in the battle for Warner Bros. and increasing prices for consumers earlier in the year, Netflix’s $45.2 billion revenue in 2025 doesn’t necessarily point to a company in crisis. The streaming company also continues to build out its entertainment offerings beyond just movies and TV shows, making moves into gaming, podcasts and live sporting events in the last few years.