Netflix Cuts About 1,000 Jobs, 6% of Global Workforce
Co-CEOs Ted Sarandos and Greg Peters announced the layoffs in a memo to employees on Wednesday, Deadline reports.
Netflix began laying off about 1,000 employees on Wednesday, roughly 6% of its global workforce, according to a memo from co-CEOs Ted Sarandos and Greg Peters obtained by Deadline.
Product, tech, legal and human resources teams are among the most affected by the cuts, according to the report.
The move follows a February round in which Netflix cut several dozen positions in its product division.
In October 2025, Sarandos said at a Bloomberg conference that the company was not growing as fast as he wanted. Netflix's share price has dropped more than 40% over the past year, and viewer engagement rose only 2% over the first half of the year.
Netflix also made an unsuccessful bid for Warner Bros. studio and streaming assets, and finished third at the Emmys behind Apple TV and HBO. Many returning Netflix series have posted season-to-season viewership declines.
Quick answers
How many Netflix employees are being laid off?
About 1,000 employees, or roughly 6% of the company's global workforce, according to a memo from co-CEOs Ted Sarandos and Greg Peters reported by Deadline.
Which teams are most affected by the Netflix layoffs?
Product, tech, legal and human resources teams are among the most impacted, according to the report.