Netflix to Shed 1,000 Jobs in Steepest Cuts Since 2022
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Netflix to Shed 1,000 Jobs in Steepest Cuts Since 2022
Image source: Mario Tama / Getty Images
By Tom Espiner, Business Reporter
Published: 14 October 2026, 16:51 BST
Updated: 1 hour ago
Netflix has announced it will cut 1,000 jobs globally, marking its steepest reduction since 2022. The cuts affect approximately 6% of its total workforce, primarily targeting human resources, legal, product, and technology teams.
Last month, Ted Sarandos, Netflix's co-chief executive, indicated the company's slower growth, stating, "We're not growing as fast as I want us to." The streaming industry has witnessed consolidation with Paramount's $110bn (£83.6bn) merger with Warner Bros., the owner of HBO, while free platforms like YouTube and TikTok continue to draw viewers.
In an email to staff, Sarandos and co-chief executive Greg Peters emphasized the need for disciplined resource allocation, saying, "Our mission - to entertain the world - is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources."
Managers will inform employees about the job cuts in the coming days. The company assures that it remains on track to meet financial forecasts, with its latest results scheduled for release on 20 October.
Investors have been focusing on user engagement, as Netflix competes with platforms like YouTube and TikTok. Despite commissioning popular shows like "Below", Netflix has struggled to diversify its revenue streams, according to Ross Benes, senior analyst at eMarketer.
The last significant round of redundancies at Netflix occurred in 2022, when they cut around 450 jobs after a decade of subscriber growth.