Netflix has around 325 million subscribers, but keeping audiences hooked is becoming a high‑stakes battle. YouTube is commanding a record share of television viewing, TikTok is competing for attention, and Netflix is cutting around 1,000 jobs as it faces pressure to turn its enormous audience into sustainable growth.
The streaming giant announced the cuts on 14 October, affecting roughly 6% of its workforce, in its biggest round of layoffs since 2022. Product, technology, legal and human resources teams will bear much of the impact, according to Reuters.
