The Globe and Mail reports in its Thursday, Oct. 15, edition that Netflix is laying off 6 per cent of its work force, or roughly 1,000 employees, in its biggest cuts since 2022, according to an internal memo seen by Reuters, as the streaming pioneer faces tough competition for viewers from legacy rivals and YouTube. A Reuters dispatch to The Globe reports that the bulk of the job cuts would be in Netflix's product, tech, legal and human-resources teams, the e-mail sent to employees by co-chief executive officers Greg Peters and Ted Sarandos on Wednesday showed. "Our mission -- to entertain the world -- is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources," they said in the memo. They added, "Decisions like these are never easy, and we don't take them lightly." Netflix shares are down about 25 per cent so far this year. In 2026, the streaming giant has faced doubts about its ability to sustain the growth that disrupted the United States media industry by putting pressure on cable TV businesses. Netflix continues to be a dominant player, accounting for 19 per cent of the market per the latest data from streaming guide JustWatch.