Netflix may cut about 5 pc of workforce next week

Streaming Giant Netflix is planning to cut nearly 5 per cent of its workforce, a move that could affect hundreds of jobs at the company, a report claimed, citing people close to the matter.

The report from Puck News said the company, that had roughly 16,000 full‑time employees at the end of last year, will make the official announcement of job cuts probably as early as next week.

The last major round of layoffs at Netflix came in 2022, when the company trimmed hundreds of jobs amid slowing growth and subscriber losses.

The job cuts are being considered as Netflix faces growing competition in the streaming industry, with media companies consolidating and Google-owned YouTube attracting an increasing share of viewers and advertising spending.

Netflix was yet to comment on the layoff reports.

Meanwhile, Netflix has diversified into advertising, live programming, and gaming beyond its traditional subscription business.

Global tech layoffs are accelerating in 2026, with more than 80,000 jobs already cut in the first quarter and total losses likely to exceed 3 lakh this year, led by companies like Oracle, Amazon, and Meta, according to a report in May.

Oracle has begun a fresh round of layoffs as the software giant looks to reduce payroll costs while simultaneously committing tens of billions of dollars to expand data-centre capacity and meet surging demand for artificial intelligence computing, according to reports.

The latest layoffs come after a significant reduction in Oracle’s workforce earlier this year. Company filings show that Oracle’s employee count declined by around 21,000, or 13 per cent, during the fiscal year ended May 31, 2026. The company had approximately 141,000 employees before the latest round of cuts.

The move highlights the pressure facing large technology companies as they seek to fund the rapid expansion of AI infrastructure while maintaining control over operating costs.