New Delhi, October 10 (Daily Kiran) : Netflix, the leading video streaming service, is reportedly planning to lay off around 5% of its workforce, which could affect hundreds of jobs. Sources indicated that the company might make an official announcement regarding the layoffs early next week. As of late last year, Netflix employed nearly 16,000 people.
This potential round of layoffs follows a significant job cut in 2022, when the company reduced its staff due to slow growth and a decline in subscriber numbers. The current layoffs are being considered as Netflix grapples with rising competition in the streaming sector. Media companies are consolidating, while YouTube, owned by Google, continues to capture a growing share of both viewers and advertising revenue.
To date, Netflix has not commented on the reports regarding the layoffs. Additionally, the company is expanding beyond its traditional subscription model, venturing into advertising, live programming, and gaming.
A report from May indicated that layoffs in the global tech sector are accelerating, with over 80,000 jobs cut in the first quarter of this year alone. The total number of job cuts for 2026 is expected to exceed 300,000, with major companies like Oracle, Amazon, and Meta leading the way.
Reports suggest that Oracle has initiated another round of layoffs as it seeks to reduce payroll expenses. At the same time, the company is committed to investing billions to expand its data center capacity and meet growing demand for artificial intelligence (AI) computing. According to company filings, Oracle’s workforce decreased by approximately 21,000, or 13%, during the fiscal year ending May 31, 2026. Before this latest round of layoffs, Oracle employed around 141,000 people.
This trend highlights the increasing pressure on major tech companies to manage operational costs while simultaneously raising funds for rapid expansion of AI infrastructure.
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