Netflix Cuts About 1,000 Jobs in Biggest Layoff Since 2022
The streaming company is reducing about 6% of its workforce as competition for viewing time grows and investors look for new sources of revenue.
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Netflix is cutting roughly 1,000 jobs, or about 6% of its workforce, in its largest round of layoffs in four years as the streaming company faces growing competition for viewers and pressure to find new sources of revenue.
Most of the cuts will fall in product, technology, legal and human resources, according to an internal memo from co-CEOs Greg Peters and Ted Sarandos seen by Reuters. Netflix had about 16,000 employees at the end of 2025.
“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,” Peters and Sarandos said.
The executives said Netflix’s business remained strong and the company was on track to meet its full-year forecast.
The cuts come as Netflix contends with a different competitive landscape from the one it helped create. Traditional entertainment companies remain rivals for films and television shows, while YouTube and TikTok are competing for viewing time with vast libraries of largely user-generated content that can be produced at a lower cost.
Investor attention has increasingly shifted to engagement, or how much time people spend watching Netflix, as subscriber growth becomes a less complete measure of the company’s prospects.
The company’s unsuccessful pursuit of Warner Bros. Discovery’s streaming and studio assets earlier this year added to scrutiny of its longer-term strategy. Paramount subsequently completed its $110 billion acquisition of Warner Bros. Discovery.
Netflix shares have fallen about 25% this year, though they rose 0.7% on Wednesday following news of the cuts.
The company last carried out a major workforce reduction in 2022, eliminating about 450 jobs across two rounds after reporting its first subscriber decline in more than a decade.
