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) merger with Warner Bros, the owner of HBO, while free platforms such as YouTube and TikTok continue to attract viewers.