Netflix is cutting about 1,000 roles, or 6% of its workforce, in the largest reduction in its history. The cuts mainly affect product, technology, legal and HR teams, according to an internal memo from co-CEOs Ted Sarandos and Greg Peters. The company says the business remains strong and is on track for its full-year forecast. It projects 2026 revenue of $51 billion to $51.4 billion.
What it means: The news confirms a trend across the sector: profitable tech companies are cutting staff not because they are in trouble but because they want to move resources into fewer, more productive areas. Netflix did not formally link the layoffs to AI, but the fact that product and technology teams are hit hardest suggests companies are testing how much work can be done with fewer people and more automation. For the Greek tech job market this has two sides. On one hand, more experienced engineers and product managers from large companies become available for remote work, which can help Greek startups looking for talent. On the other, pay pressure on mid-level roles may grow as competition for each position becomes more international. For Greek software firms, the lesson is that productivity per employee is becoming a central measure for investors and clients alike. Companies that invest now in automation tools, good documentation and training their staff to use AI well will be better placed to grow without sudden cuts later. Hiring managers should also expect stronger international applicants for remote roles over the coming months and adjust their recruiting plans accordingly.
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