Netflix Lays Off 1,000 Employees Amid Slowing Growth
Netflix eliminated 6% of its global workforce to prioritize resources as the company faces stalling viewer engagement and a declining share price.
Netflix announced the layoff of approximately 1,000 employees on October 14, 2026, representing 6% of its global workforce. Co-CEOs Ted Sarandos and Greg Peters stated in a memo that the cuts primarily affect the product, technology, legal, and human resources teams. This represents the largest round of job cuts for the company since 2022.
The downsizing follows a year in which the company's share price dropped more than 40% and viewer engagement stalled. In response to these trends, the streaming service has pivoted its strategy toward podcasts, live sports, and creator-driven content from YouTube.
Despite the workforce reduction, Sarandos and Peters maintained that the business remains strong and is on track to meet its full-year forecast. The announcement comes shortly before the company's third-quarter earnings report, which is scheduled for October 20.
