Netflix cuts 1,000 jobs as growth slows

• Netflix (NASDAQ:NFLX) announced plans to cut approximately 1,000 employees, representing about 6% of its global workforce, in its largest workforce reduction since 2022.
• The layoffs affect product, technology, legal, and human resources teams as the streaming company restructures ahead of its third-quarter 2026 earnings report.
• Netflix said the decision reflects a strategic reset amid slowing growth and increasing competition for viewer attention.

Netflix (NASDAQ:NFLX) has officially announced a workforce reduction of approximately 1,000 employees, representing about 6% of its global workforce.

The layoffs were first reported by The Wall Street Journal on October 14, 2026, and represent the company’s largest round of job cuts since 2022.

In an internal email to employees, co-Chief Executive Officers Ted Sarandos and Greg Peters said the majority of affected positions would be within product, technology, legal, and human resources departments.

Netflix said the restructuring reflects changes in the company’s operating environment as growth moderates and competition intensifies across the global streaming market.

The company has faced increasing competition for consumer attention from other entertainment platforms, including increasingly dominant digital video services such as YouTube.

The workforce reductions come shortly before Netflix is scheduled to release its third-quarter 2026 financial results on October 20, 2026.

Netflix operates one of the world’s largest subscription streaming platforms, offering original films, television series, documentaries, and licensed entertainment content worldwide.n October 20, 2026.