Netflix co-CEOs Ted Sarandos and Greg Peters confirmed a workforce reduction of six percent, impacting approximately 1,000 employees. This move represents the largest layoff round in the company's history, following previous cuts of 150 positions in May 2022 and 300 in June 2022.
The current staff reductions primarily target the company's product, technology, human resources, and legal departments. Management stated that these organizational changes are necessary to maintain discipline in resource allocation while continuing to invest in high-impact growth areas.
Financial data for 2025 shows Netflix reached a total revenue of $45.2 billion with a net income of $11 billion. The platform reported a total subscriber base of 325 million users by the end of this period.
The company's advertising division saw significant expansion, with revenue more than doubling to $1.5 billion between 2024 and 2025. This growth is attributed to the ad-supported subscription tier, priced at $7.99 per month, which reached over 9.4 million subscribers by May 2025.
