Netflix is laying off approximately 1,000 employees globally, amounting to 6% of its workforce. This marks the company's largest round of layoffs since 2022, prompted by concerns over slowing growth and declining customer engagement. The majority of these job cuts will affect teams such as product, technology, legal, and human resources. Co-Chief Executives Greg Peters and Ted Sarandos communicated this decision to employees via email. The layoffs are an acknowledgment of the fundamental problem: Netflix's growth has plateaued. Alongside these staff reductions, Chief Content Officer Bela Bajaria is also departing the company. Her exit is directly linked to Netflix's ongoing struggles with subscriber growth and viewer engagement. This internal restructuring and leadership change reflect a broader recognition that the company's content strategy needs reevaluation. The author had previously noted in August that Netflix had likely reached its peak.