Variety reports the 6% reduction is Netflix’s biggest layoff to date, with product and tech teams hit hardest.
Variety reports Netflix is laying off around 1,000 employees, or 6% of its workforce, in its biggest layoff to date. Product, technology, legal and HR teams face the greatest impact, while the company says its business remains strong and on track for its full-year forecast.
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Netflix is laying off around 1,000 employees, about 6% of its workforce, in what Variety reports is the company’s biggest layoff to date. Co-CEOs Ted Sarandos and Greg Peters announced the cuts in a Wednesday memo to employees.
The memo said product, technology, legal and HR teams would see the greatest impact. Sarandos and Peters told staff that Netflix needed to make focused choices about where it puts people and resources, even as they described the business as strong and said it remained on track for its full-year forecast.
The layoffs also reached Netflix’s scripted-TV operation. Deadline and The Hollywood Reporter reported that executives Lisa Lang McMullen, James Oh, Andrew McQuinn and Carolina Garcia were among those affected.
Netflix had about 16,000 full-time employees at the end of 2025, according to Variety. Its last major layoffs came in 2022, when the company cut about 450 jobs after reporting its first subscriber decline in more than a decade. Smaller reductions followed, including cuts to the global product team earlier in 2026.
The company is scheduled to report third-quarter earnings after the market closes on Oct. 20. Netflix has projected 2026 revenue of $51 billion to $51.4 billion and an operating margin of 31.5%.
@WSJExclusive: Netflix is cutting about 1,000 jobs, its biggest round of layoffs in years as it struggles with slowing growth and customer engagement https://on.wsj.com/4hZb11s
@TheScreenPulseNetflix has laid off around 1,000 employees.@WSJExclusive: Netflix is cutting about 1,000 jobs, its biggest round of layoffs in years as it struggles with slowing growth and customer engagement https://on.wsj.com/4hZb11s@TheScreenPulseNetflix has laid off around 1,000 employees.@WSJExclusive: Netflix is cutting about 1,000 jobs, its biggest round of layoffs in years as it struggles with slowing growth and customer engagement https://on.wsj.com/4hZb11s@TheScreenPulseNetflix has laid off around 1,000 employees.@WSJExclusive: Netflix is cutting about 1,000 jobs, its biggest round of layoffs in years as it struggles with slowing growth and customer engagement https://on.wsj.com/4hZb11s@TheScreenPulseNetflix has laid off around 1,000 employees.—
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