In brief
Netflix announced a 1,000‑job cut, its biggest since 2022, affecting HR, legal, product and tech roles – roughly 6% of staff. Co‑chief executive Ted Sarandos said growth was slower than desired, and industry consolidation continues as Paramount‑Warner deals and free platforms rise. The company pledges to invest in high‑impact areas and diversify revenue, while preparing to meet financial forecasts ahead of October results.
Netflix Slashes 1,000 Jobs in Biggest Cut Since 2022, Lays off Key Staff
By Tom Espiner | Business reporter | 14 Oct 2026
Netflix has announced a reduction of around 1,000 jobs globally, the company’s steepest workforce cut since 2022. The move will hit primarily its human resources, legal, product and technology teams, amounting to about 6% of the total staff.
Last month, co‑chief executive Ted Sarandos said Netflix was "not growing as fast as I want us to" at the Bloomberg Screentime summit.
The streaming sector is consolidating, highlighted by Paramount’s £83.6bn merger with Warner Bros., while free platforms such as YouTube and TikTok continue to lure audiences.
In an email to staff, Sarandos and co‑chief executive Greg Peters said Netflix would continue to invest aggressively in high‑impact areas to improve the service and drive growth and innovation.
Netflix had nearly reached a deal with Warner Bros. but was outbid in the end by Paramount.
They clarified that the cuts are part of disciplined prioritisation to achieve their mission to entertain the world.
Managers will notify employees of job notifications soon.
Netflix aims to meet financial forecasts ahead of its 20 October results. Investors are scrutinising user engagement metrics as the company competes with platforms like YouTube and TikTok.
The streaming giant continues to produce content, currently with "Below", an underwater mystery series that is among its most popular titles.
It is also testing new revenue streams, exploring gaming and advertising integrations, though analysts say subscription revenue may be reaching a plateau.
The last major round of redundancies was in 2022 when Netflix cut roughly 450 jobs after losing subscribers for the first time in over a decade.
