Netflix Announces 1,000 Layoffs as Growth Slows

Netflix is cutting about 1,000 jobs, or 6% of its workforce, in its biggest round of layoffs since 2022. The cuts are no longer just a reported plan: co-CEOs Ted Sarandos and Greg Peters told staff on Wednesday that employees will soon learn whether their roles are affected. The company says it remains on track to meet its full-year financial forecast. ^2,7

Those 1,000 jobs will fall mainly in product, technology, legal and human resources, according to the leaders’ email. Netflix says it will keep investing in areas it sees as important to improving its service and growing the business. The timing is striking: Netflix is still the leading paid streaming service, but its growth has slowed, and executives have acknowledged they want it to pick up. In 2022, Netflix cut about 450 jobs after losing subscribers for the first time in more than a decade. ^1,2

Slower growth matters because Netflix now competes for attention with free video platforms such as YouTube and TikTok, not just other paid streaming services. Their steady supply of clips and user-made videos can keep viewers watching without another monthly bill. Investors are also watching how long customers spend on Netflix; viewing hours rose just 2% in the first half of 2026, according to the company’s latest figures. Netflix has added ads and live shows and tried gaming, but analysts say subscriptions remain its main source of income. ^1,2,13

That pressure reaches beyond the staff losing jobs. The cuts come as Netflix tries to decide where to put its people and money, while its film division has also lost vice-president Doug Belgrad. Questions remain about whether the cuts will affect production plans in places such as Mexico and Spain; the sources report no cuts to those teams. Netflix is due to report third-quarter results on October 20, when investors will get another measure of its growth and viewer engagement. ^3,4,6