Netflix cuts about 1,000 jobs, its largest layoffs since 2022, across product, technology, legal and human resources

The largest streaming service in the world is getting smaller on purpose.

Netflix told staff on Wednesday that it will cut about 6 percent of its workforce, roughly 1,000 jobs, in its biggest round of layoffs since 2022. Co chief executives Greg Peters and Ted Sarandos announced the cuts in an email to employees on Wednesday morning. Most of the reductions fall on the product, technology, legal and human resources teams. The executives said the company's mission requires discipline about where it puts people and resources, that the business is strong and growing, and that Netflix remains on track to deliver its full year forecast while continuing to invest aggressively in high impact areas.

The cuts come from strength on paper and pressure underneath it. Netflix reported 45.2 billion dollars in revenue and 11 billion dollars in net income for 2025 and counts about 325 million subscribers worldwide, more than any rival, but it faces intense competition for viewers' time in a consolidated market and lost the bidding war for Warner Bros Discovery's streaming and studio assets to Paramount Skydance earlier this year. Paramount completed that 110 billion dollar acquisition this month. Netflix shares rose about 1 percent when the layoff news broke, as of October 14.

Netflix had about 16,000 full time employees at the end of 2025. Its 2022 layoffs, about 450 jobs after its first quarterly subscriber decline in more than a decade, were until now its largest. The company reports third quarter earnings on Tuesday, October 20. This report describes the company's announced cuts and results. It is not financial advice.