Netflix Lays Off About 6% of Workforce

The cuts affect roughly 1,000 employees, mostly in product, tech, legal and human resources, in the company’s biggest layoff since 2022.

RRohaanPublished 15 October 2026 at 16:54 PKT1 min read

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Netflix Lays Off About 6% of Workforce · Netflix Lays Off About 6% of Workforce

Netflix cuts about 6% of its workforce, roughly 1,000 jobs, its biggest layoff since 2022, saying its business is strong and on track for its forecast.

Netflix is laying off about 6% of its workforce, or roughly 1,000 employees, in its biggest job cuts since 2022, according to an internal memo seen by Reuters. Co-CEOs Greg Peters and Ted Sarandos sent the memo to employees on Wednesday, October 14. The company had about 16,000 employees at the end of last year.

Where the Cuts Fall

The bulk of the cuts are in Netflix’s product, tech, legal and human-resources teams. The co-CEOs wrote that the company needs to be disciplined about where it prioritises its people and resources. They said the business is strong and growing and remains on track to deliver its full-year forecast.

Market Context

Netflix shares are down about 25% this year, though they rose 0.7% on Wednesday.
Investors have focused on how much time users spend on the service, as free platforms such as YouTube and TikTok compete for viewers.
Netflix’s pursuit of Warner Bros Discovery’s streaming and studio assets earlier this year did not succeed, and Paramount completed its $110 billion acquisition of Warner Bros earlier this month.
Netflix has been expanding beyond subscriptions through an ad tier, live programming and gaming.

Its previous major layoffs were in 2022, when it cut about 450 jobs in two rounds. The Wall Street Journal first reported the memo.