NETFLIX TO LAY OFF AROUND 1,000 EMPLOYEES, CUTTING 6% OF ITS WORKFORCE. Netflix is cutting approximately 1,000 jobs in its biggest round of redundancies since 2022, as the streaming giant faces growing competition from YouTube, TikTok and traditional media companies. The cuts will primarily affect its product, technology, legal and human resources departments. The company had around 16,000 employees at the end of last year. Despite the job losses, co CEOs Greg Peters and Ted Sarandos told staff that the business remained strong and was on track to meet its annual financial forecast. #ThisIsMoney #Money #News #UK