Netflix Cuts 6% of Staff in Biggest Layoff Since 2022

As of October 15, 2026, Netflix is cutting about 1,000 jobs, or 6% of its global workforce. It's the company's largest round of layoffs since 2022, and slowing revenue growth and declining viewing time are cited as the backdrop.

About 1,000 peopleJobs being cut

6%Share of total workforce affected

13.4%Q2 revenue growth, year over year

About 16,000Netflix employees at the end of last year

Key points

Netflix told employees on Wednesday (US time) that it plans to cut about 6% of its workforce, roughly 1,000 people.
HR, legal, product development and technology teams are reportedly the main targets.
Second-quarter revenue rose 13.4% from a year earlier but came in slightly below Wall Street expectations.
Netflix reports quarterly earnings on Oct. 20, and executives say the company is still on track to hit its full-year outlook.

The Wall Street Journal and other US outlets reported Wednesday that Netflix plans to part ways with about 1,000 employees worldwide. Co-CEOs Greg Peters and Ted Sarandos sent a company-wide email that morning. The gist: to fulfill the company's mission, leaders have to make hard calls about where to put people and resources first. HR, legal, product development and technology teams are reportedly the main targets.

In the same message, executives stressed that the business is growing steadily and that the company is on track to meet this year's goals. The announcement comes roughly a week before Netflix reports quarterly earnings. In July, the company said second-quarter revenue hit about $12.6 billion, up 13.4% from a year earlier, which was a hair below what analysts expected. It guided for third-quarter revenue of around $12.9 billion.

The backdrop is a fight for screen time and market share. Netflix's US churn rate (the share of subscribers who cancel) is among the lowest in the industry, but analysts say engagement has softened as free platforms like YouTube eat into viewing time. Netflix has been trying to keep people around longer with live channels, bundles with other services, video podcasts, YouTube creator content and live sports and events. Its ad-supported tier and games are also being built up as revenue streams beyond subscription fees. An analyst at research firm eMarketer said the subscription model is nearing its limits, and no big replacement revenue source is in sight yet.

This is Netflix's first major workforce reduction since 2022, when a painful subscriber loss led to two rounds of cuts totaling roughly 450 people. With about 16,000 employees at the end of last year, the new round is more than double that size. The stock is a pressure point, too. Some reports say shares have dropped more than 40% over the past year, while others put the decline at around 25% so far this year. The gap comes down to different starting dates.

In Korea right nowKorean business and entertainment outlets are framing the news around slowing growth and the limits of diversifying revenue. The reports don't mention any changes to Netflix's Korean production teams or its investment plans in Korean content. Still, commentators have pointed out that Netflix hasn't had a blockbuster in a while on the scale of 'Stranger Things' or 'Squid Game,' the kind of hit that lifts both subscribers and viewing hours. K-content players chasing global hits are now watching closely to see how Netflix's investment posture shifts after the Oct. 20 earnings call.

FAQ

How many people is Netflix laying off?

About 6% of its workforce, or roughly 1,000 people. Netflix had about 16,000 employees at the end of last year, and this is its largest round of cuts since 2022.

Which teams are affected?

Reports point to HR, legal, product development and technology teams. No specific details about content production teams have emerged so far.

What should I watch for next?

Netflix reports quarterly earnings on Oct. 20. Revenue growth, user engagement and how the ad-supported tier is performing are the key numbers for gauging where the company is headed.