Netflix is cutting roughly 1,000 jobs, or about 6% of its workforce, as the streaming giant contends with slowing growth.The layoffs, concentrated in the product, technology, legal, and human-resources teams, were announced Wednesday by co-CEOs Ted Sarandos and Greg Peters in an email to staff.
“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,” the executives wrote. “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.”
Netflix had about 16,000 full-time employees at the end of 2025. The company last conducted a major round of layoffs in 2022 and made smaller cuts to its product team in February.
Sarandos acknowledged the growth challenges last month, saying, “We’re not growing as fast as I want us to, and we’re working on making that move faster.” The company’s stock has fallen 25% in 2026 amid investor concerns about its pace of expansion. In July, Netflix accounted for 7.8% of U.S. TV viewership, trailing YouTube’s 14.2%, according to Nielsen.