An article summarized by Fox Business:
Netflix is reportedly planning to cut approximately 1,000 jobs worldwide, or around 6% of its workforce, marking its largest round of layoffs since 2022. The cuts are expected to primarily affect its product, technology, legal and human resources departments, according to The Wall Street Journal, which cited an internal email from co-CEOs Ted Sarandos and Greg Peters. The announcement comes less than a week before Netflix is scheduled to report its third-quarter financial results on October 20.
The reported layoffs come as Netflix faces growing competition for viewers’ attention and expands beyond traditional streaming subscriptions into advertising, live programming and gaming. Company leadership reportedly told employees that Netflix remains on track to meet its full-year financial forecast but plans to allocate resources more selectively while continuing to invest in key priorities. Netflix had approximately 16,000 full-time employees at the end of 2025.
The cuts follow Netflix’s unsuccessful attempt to acquire Warner Bros. Discovery’s streaming and studio assets. Netflix declined to raise its offer in February, and Paramount Skydance subsequently completed its roughly $110 billion acquisition of Warner Bros. Discovery earlier this month. Netflix last carried out significant layoffs in 2022 following its first quarterly subscriber decline in more than a decade. The company had not immediately commented on the latest reported cuts.
