Netflix is swinging the axe.

The streaming giant is cutting about 6% of its workforce — roughly 1,000 jobs — in its biggest round of layoffs since 2022, first reported by the Wall Street Journal on Tuesday.

According to Reuters, the cuts were announced in an internal staff email sent Tuesday morning and are concentrated in Netflix’s product, technology, legal, and human resources teams. The company reported roughly 16,000 full-time employees at the end of 2025.

Co-CEOs Ted Sarandos and Greg Peters told staff the company must be “disciplined about where we prioritize our people and resources” as it retools for what’s next.

The layoffs land at a bruising moment for Netflix: the company lost the bidding war for Warner Bros. Discovery’s streaming and studio assets to Paramount Skydance earlier this year, shares are trading roughly 35% below their 2026 peak, and third-quarter earnings are due October 20.

Stay with ToledoBuzz for the latest on this developing story.

Featured image: Netflix headquarters in Los Gatos, California — photo by Coolcaesar via Wikimedia Commons (CC BY-SA 3.0).