Netflix is laying off about 6% of its global work force -- roughly
1,000 jobs -- as it experiences slower growth in its business.
This would be its biggest round of layoffs in four years, since 2022. The layoffs cut across product, technology, legal and human
resources divisions.
As streaming competition ramps up, Netflix has seen slipping subscriber engagement on its platform.
Subscribers are only viewing content amounting to 1 hour and 13
minutes a day as of the first half of 2026, according to GuruFocus.
This is down from 1 hour and 17 minutes a day a year ago -- largely driven by from younger demographics, viewers ages 17 to
25 that are pulling back on viewing.
In response, Netflix has been boosting strong live programming -- sports and other events.
This week, it struck a deal to secure the airing rights to
the 2030 FIFA World Cup in Spain and Andorra -- countries where t has airing rights. Previously, it had completed deals to acquire the women’s 2027 and 2031 FIFA World Cup events.
Year-to-date, Netflix's stock price is down 23% to $70.46.. It is also down 42% over the last 12 months.
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