Netflix cuts 1,000 jobs as CEOs tell employees ‘business is strong and growing’
Por Prathik Jayaprakash and Anzar Mehraj — – World RSS Feed
Netflix cuts 1,000 jobs as CEOs tell employees ‘business is strong and growing’
The streaming pioneer had approximately 16,000 staff members at the end of last year
Prathik Jayaprakash & Anzar Mehraj Wednesday 14 October 2026 15:57 BST
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Netflix is expected to cut roughly 1,000 positions, or 6% of its workforce, in its largest round of layoffs since 2022, according to an internal memo Reuters reviewed, as the streaming pioneer faces intense competition from legacy rivals and YouTube.
The majority of the job losses will hit Netflix’s product, tech, legal, and human-resources divisions, an email Co-CEOs Greg Peters and Ted Sarandos sent on Wednesday showed.
“Our mission — to entertain the world — is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources,” they stated in the memo.
“Our business is strong and growing, and we remain on track to deliver our full-year forecast.”
Netflix shares, down about 25% so far this year, gained 0.7% on Wednesday. The company had approximately 16,000 staff members at the end of last year.
This year, skepticism has grown over the streaming giant’s ability to maintain the expansion that previously reshaped the U.S. media market and placed heavy pressure on cable TV companies.
User engagement, or viewing time, has become a key concern for investors as platforms including YouTube and TikTok attract audiences with free, user-generated content that provides a clear cost advantage over Netflix.
An unsuccessful attempt to acquire Warner Bros. Discovery’s streaming and studio assets earlier this year fueled further doubts regarding Netflix’s strategy.
Paramount completed its $110-billion acquisition of Warner Bros. earlier this month, establishing Skydance.
“They haven’t been able to find like another line of major revenue,” said Ross Benes, senior analyst at eMarketer, adding that the platform remains dependent on a subscription business approaching a ceiling.
“Eventually, because they’re kind of nearing a ceiling with that, they’ll need another revenue stream to diversify, and that’s where it’s been more of a struggle.”
Netflix has sought to expand beyond subscriptions through investments in an ad tier, live programming, and video games.
Its last significant cuts occurred in 2022, when it shed roughly 450 jobs across two rounds following its first subscriber losses in more than a decade.
Wednesday’s memo was first reported by The Wall Street Journal.
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