Netflix cuts 1,000 jobs, 6% of workforce, in largest layoff since 2022
by The Washington Times AI News Desk · The Washington TimesNetflix is laying off about 1,000 employees, roughly 6% of its workforce, in its largest round of job cuts since 2022, The Wall Street Journal first reported Wednesday, citing an internal memo that was also seen by Reuters and Variety.
Co-CEOs Greg Peters and Ted Sarandos told staff Wednesday morning that the cuts will fall most heavily on the product, technology, legal and human resources teams. The streaming giant had about 16,000 full-time employees at the end of last year.
The executives said the business remains “strong and growing” and on track to meet its full-year forecast. A Netflix spokesperson declined to comment beyond the memo.
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The cuts are more than double the about 450 jobs Netflix eliminated across two rounds of layoffs in May and June 2022, when it lost subscribers for the first time in more than a decade.
The reduction is larger than the roughly 850 jobs that Puck News reported last week the company was preparing to cut.
Netflix has faced investor doubts this year about how long it can sustain its growth, according to Reuters. Viewer engagement has become a central concern as free platforms such as YouTube and TikTok compete for attention, and Netflix shares are down about 25% this year. In February, Netflix walked away from its deal for Warner Bros. Discovery’s studio and streaming assets after declining to match a higher Paramount Skydance bid.
Mr. Sarandos acknowledged the slowdown last month, telling a Bloomberg conference that “we’re not growing as fast as I want us to.” Viewing hours rose 2% in the first half of 2026.
Ross Benes, a senior analyst at eMarketer, told Reuters that Netflix remains reliant on a subscription business that may be nearing a ceiling and will eventually need another revenue stream. The company has been expanding into advertising, live programming and gaming.
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Netflix is scheduled to report third-quarter earnings Tuesday after the market closes.
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