Netflix Eliminates About 1,000 Jobs in Biggest Cuts Since 2022
The layoffs affect product, technology, legal and human resources teams as Netflix shifts spending toward higher-priority growth areas, the company said.
- On Wednesday, Netflix co-CEOs Ted Sarandos and Greg Peters announced layoffs of roughly 1,000 employees, about 6% of the global workforce, marking the company's largest reduction since 2022.
- Slowing viewer engagement and intensified competition from rivals like YouTube prompted the decision, as Netflix's stock dropped 25% in 2026 amid broader industry consolidation.
- Most cuts target product, technology, legal, and human resources departments, according to the internal memo from Sarandos and Peters, concentrating reductions in operational and administrative areas.
- Despite the restructuring, "Our business is strong and growing," Sarandos and Peters stated, emphasizing the company remains on track to deliver its full-year forecast.
- Netflix reports third-quarter earnings on October 20, providing investors a critical assessment of whether the restructuring stabilizes growth amid mounting competitive pressures.
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357 Articles
Today's Netflix Layoffs Impacted Around 1,000 Employees
Last week, we reported that Netflix was planning to lay off around 5% of its workforce, around 850 employees. That round of layoffs was announced today and was larger than expected. According to. report from The Wall Street Journal, the company announced that it would be laying off around 6% of its workforce, totaling around […]
Netflix to cut about 1,000 jobs in largest layoffs to date
Netflix is cutting roughly 6% of its workforce, or about 1,000 jobs, in its largest round of layoffs to date, according to an employee memo. The cuts will fall most heavily on its product, technology, legal and human resources teams. Co-CEOs Ted Sarandos and Greg Peters announced the organizational changes in an email to employees […]
Netflix looks for how to catch its subscribers in the middle of a growth crisis.
25 years ago, Netflix laid off a third of its employees and learned a lesson about 'talent density.' New cuts will test whether it still works
Netflix is only laying off 6% of its workforce now. Here's a look back at the defining cuts for the company, in 2022 and 2001.
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