Netflix plans to cut around 1,000 jobs, or about 6% of its global workforce, in its largest round of layoffs since 2022. The streaming company announced the decision in an internal memo sent to employees on October 14, 2026, as it reviews how staff and resources are used across its business.
Co-CEOs Greg Peters and Ted Sarandos said the company needed to make careful decisions about where to focus its workforce and spending. Most of the job cuts are expected to affect the product, technology, legal and human resources departments.
The executives also said Netflix’s business remains strong and that the company expects to meet its financial targets for the full year. However, the job cuts come as the streaming platform faces growing competition from services such as YouTube and TikTok, which attract viewers with free content.
Netflix is also working to increase revenue beyond subscriptions by expanding its advertising service, live programming and gaming offerings. These efforts aim to attract more viewers and encourage existing subscribers to spend more time on the platform.
Netflix had around 16,000 employees at the end of 2025. Its previous major layoffs took place in 2022, when it cut about 450 jobs following a decline in subscribers.
