Netflix Set to Lay Off 6% of Global Staff, with 1,000 Jobs Being Cut

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Posted in: Movies, Netflix, TV | Tagged: netflix

Netflix Set to Lay Off 6% of Global Staff, with 1,000 Jobs Being Cut

In a memo, Netflix Co-CEOs Ted Sarandos and Greg Peters announced that 6% of the global staff (approximately 1,000 jobs) will be laid off.

Published Wed, 14 Oct 2026 09:17:08 -0500
by Ray Flook
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Despite walking away from its failed effort to acquire Warner Bros. Studios' movie and television studios and streaming assets earlier this year $9 billion richer, Netflix has been dealing with issues of viewer engagement and concerns from Wall Street analysts, who question the streamer's long-term plans for growth. The bad news continued on Wednesday, with Netflix Co-CEOs Ted Sarandos and Greg Peters announcing in a memo to employees that 6% of the streamer's global staff (approximately 1,000 jobs) will be laid off – the largest round of layoffs from Netflix in four years. The majority of the layoffs are expected to have the heaviest impact on the streamer's product, technology, legal, and HR teams. The move had been rumbled about over the past few months, with Netflix leadership addressing the company's move to streamline operations on the technological-administrative side.

Image: Bucharest, Romania – July 30th 2024 – A businessman relaxing with Netflix in his personal office, streaming a movie and taking a break from work. Young CEO with a global business. Camera B. (Shutterstock.com/DC Studio)

"Decisions like these are never easy, and we don't take them lightly. Our top priority today is to support those who are leaving Netflix. The process will vary somewhat by country, but leaders will be connecting with impacted employees soon," read the memo from Sarandos and Peters. "Our business is strong and growing, and we remain on track to deliver our full- year forecast. We'll continue to invest aggressively in high- impact areas to improve our service and further drive growth and innovation. Doing that means making focused choices across the business so we can keep delivering for our members, partners, employees, and investors." The CEOs noted that they see the evolving media landscape as "perfectly suited to a company like ours that's built at the intersection of technology and entertainment. Now it's on us to step up and meet the moment."

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