Netflix cuts about 1,000 jobs, its biggest layoffs since 2022
Netflix is laying off roughly 6% of its staff, about 1,000 people, mostly in product, tech, legal and HR, co-CEOs Ted Sarandos and Greg Peters told employees. They said the business is "strong and growing" and on track for its full-year forecast.
AI-assisted · US Brief desk · Sources listed below
What happened
Netflix began laying off about 1,000 employees on Wednesday, Oct. 14, roughly 6% of its global staff. In a memo, co-CEOs Ted Sarandos and Greg Peters said the cuts hit product, tech, legal and HR teams hardest. "Decisions like these are never easy, and we don't take them lightly," they wrote. Variety reported that film VP Doug Belgrad and director of film Sheroum Kim were among those let go.
Why it matters
It is Netflix's deepest cut since 2022, when it shed about 450 jobs after its first subscriber loss in a decade, the BBC reported. The streamer faces a consolidating industry after Paramount's merger with Warner Bros., and steady competition for viewing time from YouTube and TikTok. Business Insider said Netflix stock is down more than 40% over the past year.
More context
What Netflix said: The co-CEOs wrote that "our business is strong and growing" and that Netflix remains on track to hit its full-year forecast. They said the company will "continue to invest aggressively in high-impact areas." Last month Sarandos said Netflix was "not growing as fast as I want us to," the BBC reported.
What would change the story: Netflix reports third-quarter results on Oct. 20. Weak engagement or a lowered forecast would make these cuts look like the start of a broader reset. eMarketer analyst Ross Benes told the BBC the company still lacks "another line of major revenue" beyond subscriptions.
5 listed sources
- Deadline, Oct. 14, 2026
- Variety, Oct. 14, 2026
- Variety, Oct. 14, 2026
- BBC News, Oct. 14, 2026
- Business Insider, Oct. 14, 2026
References listed by US Brief; a source count is not a verification score.
Editorial sourcing notes
The memo text is as published by Deadline and Business Insider. The 2022 comparison and analyst quote are from the BBC. Departures of film executives Doug Belgrad and Sheroum Kim are from Variety; Netflix declined to comment to Variety. Hero photo is a 2008 file image.
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