India, Oct. 15 -- Streaming giant Netflix is reportedly planning to lay off around 1,000 employees, representing approximately 6% of its workforce, amid intensifying competition from rival platforms.

According to CNBC, the job cuts are expected to primarily affect the company's product, technology, legal and human resources (HR) teams.

In an email to employees, Netflix co-CEOs Ted Sarandos and Greg Peters emphasised the need to prioritise resources while continuing to invest in the company's growth and innovation.

"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," the executives wrote, as quoted by CNBC.

"We'll continue to invest agg...