Netflix Reportedly Cuts 6% of Its Workforce in Largest Wave of Layoffs in Years

Netflix has reportedly cut around 1,000 jobs worldwide, representing around 6% of its workforce, in the largest wave of layoffs since 2022.

The job cuts, first reported by The Wall Street Journal on Wednesday, come less than a week before the streaming giant reports its third-quarter financial results on October 20.

The cuts will primarily affect Netflix’s product, technology, legal and human resources departments, the Journal reported, citing an internal email sent to employees by co-CEOs Ted Sarandos and Greg Peters.

The reported layoffs come as Netflix faces growing competition for viewers’ attention and invests in new businesses beyond its traditional streaming subscription model.

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The cuts will primarily affect Netflix’s product, technology, legal and human resources departments. (Michael Yanow/NurPhoto via Getty Images)

The company has increasingly expanded into advertising, live programming and gaming, aiming to diversify its offerings and generate additional revenue.

Despite the planned staff reductions, Sarandos and Peters said Netflix remains on track to meet its full-year financial guidance, according to the Journal.

Executives told employees the company would continue to invest in key priorities while taking a more selective approach to allocating resources, according to the report.

Netflix has increasingly expanded into advertising, live programming and gaming. (Nikos Pekiaridis/NurPhoto via Getty Images)

Netflix had about 16,000 full-time employees as of Dec. 31, 2025, including about 10,900 in the United States and Canada, according to its annual filing with the Securities and Exchange Commission.

Wednesday’s report follows earlier indications of potential workforce reductions. Puck News previously reported that Netflix was preparing to eliminate approximately 5% of its staff. Reuters reported on October 9 that Netflix declined to comment on the previous report.

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Netflix last made substantial cuts to its workforce in 2022, when it cut hundreds of positions following its first quarterly subscriber decline in more than a decade.

Netflix last made substantial workforce reductions in 2022. (Gabby Jones/Bloomberg via Getty Images)

The reported job cuts come after Netflix’s failed pursuit of Warner Bros.’ streaming and studio assets. Discovery. Netflix announced in February that it would not increase its bid for these assets.

Paramount Skydance subsequently completed its acquisition of Warner Bros. Discovery for approximately $110 billion earlier this month, bringing together major entertainment and streaming properties under one company.

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Netflix did not immediately respond to FOX Business’ request for comment on the layoffs reported Wednesday.

Reuters contributed to this report.