[Netflix](https://en.wikipedia.org/wiki/Netflix) confirmed on Wednesday that it will dismiss approximately 1,000 employees, equivalent to 6 % of its worldwide workforce, following a noticeable slowdown in its revenue expansion during 2026.
**What triggered the job cuts?**
The streaming service posted a 13.4 % rise in second‑quarter revenue compared with the same period a year earlier, down from a 16.2 % increase recorded in the first quarter. For the just‑concluded third quarter, the Los Gatos‑based company projects growth of 11.7 %.
**How is the company responding?**
In an internal memo, co‑CEOs [Ted Sarandos](https://en.wikipedia.org/wiki/Ted_Sarandos) and [Greg Peters](https://en.wikipedia.org/wiki/Greg_Peters_(businessman)) wrote that the mission to "entertain the world" demands disciplined allocation of people and resources. They indicated that while the firm will continue to invest in sports‑related roles, broader staffing reductions are necessary as revenue becomes a higher priority than subscriber acquisition.
**Industry reaction**
Emarketer analyst Ross Benes observed that the layoffs illustrate that even leading streaming platforms are vulnerable to stagnation and financial pressure. He added that Netflix hopes to offset the slowdown by leaning on lower‑cost content.
**Market impact**
Since the start of the year, Netflix’s share price has dropped about 15 %, and several outlets have reported a decline in average viewing time after years of steady growth.
The company did not immediately respond to AFP’s request for comment.