Netflix to cut roughly 5% of workforce in upcoming layoffs
Netflix plans to reduce its staff by about 800 positions, or 5% of its workforce, with announcements possibly as early as next week.
Netflix is preparing a restructuring that could eliminate around 800 jobs, representing roughly 5% of its total headcount of 16,000 employees. The move may be announced as early as next week, according to a report that cited anonymous sources. A company spokesperson declined to comment on the planned cuts, and it is not yet clear which divisions will be most affected.
The majority of Netflix’s workforce—about 68%, or 10,900 employees—are based in the United States and Canada. The last large-scale layoff at the streaming service occurred in 2022, when about 450 positions were eliminated after a subscriber decline. Smaller reductions have been made since, including the dismissal of several dozen members of the global product team earlier in 2026.
"Yes, overall, we’re not growing as fast as I want us to, and we’re working on making that move faster," co-CEO Ted Sarandos said at a recent industry conference, noting a slowdown in user engagement despite a 2% year-over-year increase in the first half of 2026.
Sarandos added that live programming, which consumes about 5% of Netflix’s content budget, accounts for only 1% of viewing hours, creating a challenge for growth. The company reported second-quarter earnings that met Wall Street expectations but provided third-quarter revenue guidance below analyst forecasts, prompting a decline in its stock price. Netflix is slated to release its third-quarter 2026 earnings after market close on October 20.