Netflix confirms 1,000 job cuts

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Netflix confirms 1,000 job cuts
October 15, 2026



Following much industry speculation, Netflix has confirmed it will cut 1,000 staff from its global workforce – around 6 per cent of its employees – as the streaming giant faces growing competition from media mergers, social media platforms and vertical content.

In a staff memo, Netflix Co-CEOs Greg Peters and Ted Sarandos said: “Team – We wanted to share that we are making a number of organisational changes and, as a result, we’ll be letting go of roughly 6 per cent of our colleagues, with the greatest impact to our product, tech, legal, and HR teams.


“Decisions like these are never easy, and we don’t take them lightly. Our top priority today is to support those who are leaving Netflix. The process will vary somewhat by country, but leaders will be connecting with impacted employees soon. If you are leaving, please know that we will support you throughout this transition and make sure you have as much clarity and context as possible. We also want to say thank you. What you’ve built, and the care you brought to Netflix, have made a lasting difference, and we will always be grateful. For the rest of the team, we know you have questions, too. Our mission – to entertain the world – is ambitious, and delivering on ​it requires us to be disciplined about where we prioritise our people ⁠and resources. Our business is strong and growing, and we remain on track to deliver our full-year forecast. We’ll continue to invest aggressively in high-impact areas to improve our service and further drive growth and innovation. Doing that means making focused choices across the business so we can keep delivering for our members, partners, employees, and investors,” added the memo, reported by Variety.

Netflix has seen its share price plummet by more than 40 per cent over the past 12 months. It will announce its Q3 earnings on October 20th.

[tokoroko]

Netflix to cut around 1,000 jobs in global restructuring
October 15, 2026 11.13 Europe/London By Julian Clover


Netflix is cutting approximately 6% of its global workforce, equivalent to around 1,000 jobs, as part of organisational changes announced to employees on October 14.

The figure represents about 6% of the current workforce and is the largest wave of layoffs at the streamer since 2022.

Product, technology, legal and human resources teams will bear the greatest impact, according to a staff memo from co-CEOs Ted Sarandos and Greg Peters, published by Variety. A Netflix spokesperson declined to comment beyond the memo.

No country-by-country breakdown has been disclosed, and it is not yet known whether the redundancies will affect Netflix employees in the UK.

The executives said the changes reflected the need to prioritise staff and resources, while maintaining that Netflix’s business remained strong and that it was on track to deliver its full-year forecast.

“Our top priority today is to support those who are leaving Netflix,” they wrote, adding that the process would vary by country.

Netflix is not the only streaming service to reduce its headcount in recent years. In 2024, Amazon cut several hundred jobs at Prime Video and sister company MGM Studios. Last year, Disney cut jobs across its film and television divisions.

Netflix is scheduled to report its third-quarter results on October 20.