Netflix cuts about 1,000 jobs as growth slows
Netflix is cutting roughly 1,000 jobs globally, about 6% of its workforce, in its biggest round of layoffs since 2022. Co-CEOs Ted Sarandos and Greg Peters said in an internal memo that most cuts will affect product, technology, legal and human-resources teams; Netflix says it remains on track to meet its full-year forecast.
Bottom line — Netflix is due to report its latest results on 20 October, after cutting about 1,000 jobs.
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Netflix had about 16,000 employees at the end of 2025, according to its securities filing cited by CBS News and TheWrap.
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Ted Sarandos said last month that Netflix was “not growing as fast as I want us to”, according to CNBC and the BBC.
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The Guardian reports that investor concern centres on engagement as YouTube and TikTok draw viewers with free, user-generated content.
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Ross Benes, a senior analyst at eMarketer, told the BBC and the Guardian that Netflix remains reliant on subscriptions and has struggled to find another major revenue stream.
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Netflix says it plans to keep investing in areas it considers high-impact, including improvements to its service, according to the co-CEOs’ memo.