Netflix to cut 1,000 jobs in biggest layoff round in years

Netflix co-CEOs Ted Sarandos and Greg Peters informed staff on October 14 that the company would eliminate about 1,000 jobs, or 6% of its 16,000-strong global headcount, the streamer's biggest round of layoffs in four years. The cuts fall most heavily on product, technology, legal and human resources teams. In the memo, the co-CEOs told employees that their mission to entertain the world is ambitious and that delivering on it requires discipline about where to prioritise people and resources. The news dominated business coverage on October 15 as it crystallised investor concerns over slowing subscriber growth, rising content and AI-infrastructure spending, and intensifying competition for user attention. The layoffs also follow Netflix's loss of a protracted bidding war for Warner Bros. Discovery's studio and streaming business to Paramount Skydance earlier in 2026. Netflix shares closed at $70.29 on Wednesday, down 0.2% on the day and about 25% lower for the year. Analysts said the cuts mark a sharp cultural shift at a company long known for lean teams and high per-head output, and signalled further restructuring in Hollywood.