Netflix to cut about 1,000 jobs in its biggest round of layoffs since 2022
The streaming company is cutting about 6% of its workforce, mainly in technology, human resources and legal. It cited slower growth and kept its full-year outlook unchanged.
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Netflix is cutting about 1,000 jobs worldwide, or roughly 6% of its workforce. The company confirmed the plans to tech outlet TechCrunch on Wednesday. Netflix had about 16,000 full-time employees at the end of 2025, according to its annual report. The cuts mainly affect technology, product development, human resources and legal. It is the company’s largest round of layoffs since 2022, retail-news reported.
Co-CEOs Greg Peters and Ted Sarandos attributed the move to slower growth in an internal memo, trade publication Variety reported, saying the company needed to be disciplined and set priorities. Sarandos had said weeks earlier that Netflix was growing more slowly than he would like. The company will keep investing in high-growth areas and maintained its financial outlook for 2026.
The shares fell 1.3% in U.S. trading amid a weak market, Swiss financial news agency AWP reported. Netflix had earlier lost the bidding contest for Warner Bros. Discovery's studio business to Paramount. It is not yet clear which countries and sites will be affected. Netflix reports quarterly results next week.