Netflix Confirms Close To 1,000 Layoffs, Its Biggest Cuts Since 2022
Summary
Co-CEOs Ted Sarandos and Greg Peters told staff the business is "strong and growing" as roughly 6% of the workforce, mostly in product, tech, legal and HR, is let go.
"Netflix is laying off roughly 1,000 employees, about 6% of its workforce, in its largest staff reduction since 2022, TheWrap and Quartz reported Wednesday, following a report from The Wall Street Journal. In an email to staff signed ""Ted and Greg,"" co-CEOs Ted Sarandos and Greg Peters said most of the cuts will fall on product, technology, legal and human resources teams, citing ""a number of organizational changes"" and the need to be ""disciplined about where we prioritize our people and resources."" They wrote that ""our business is strong and growing, and we remain on track to deliver our full-year forecast,"" and said leaders would contact affected employees soon, with the process varying by country.
Netflix had about 16,000 full-time employees at the end of 2025. Puck had reported last week that the company was preparing to cut about 5% of staff. Netflix shares are down roughly 25% this year amid concerns about slowing growth, and Sarandos said last month, ""We're not growing as fast as I want us to, and we're working on making that move faster."" The company reports third-quarter earnings on October 20."