NETFLIX CUTS 1,000 JOBS

On October 14, 2026, Netflix announced it is laying off about 1,000 employees. That’s roughly 6% of its 16,000-person workforce and the company’s largest round of job cuts so far. Product, technology, legal and HR teams take most of the cuts.

In a memo to staff, co-CEOs Ted Sarandos and Greg Peters said the company needs to be “disciplined about where we prioritize our people and resources.” They also wrote that “decisions like these are never easy, and we don’t take them lightly.”

The layoffs come while the business is still growing. Netflix earned $11 billion in 2025, and second-quarter revenue rose 13% to $12.6 billion. Eight days before the layoffs, Paramount finished its roughly $81 billion purchase of Warner Bros. Discovery, a deal Netflix had walked away from in February.