Netflix is laying off around 1,000 employees
In a memo sent to employees today the streamer’s CEOs announced layoffs for six percent of the company’s workforce.
In a memo sent to employees today the streamer’s CEOs announced layoffs for six percent of the company’s workforce.
by
Andrew Liszewski
Oct 14, 2026, 3:12 PM UTC
Illustration by Alex Castro / The Verge
Andrew Liszewski
is a senior reporter who’s been covering and reviewing the latest gadgets and tech since 2006, but has loved all things electronic since he was a kid.
Following areport last week that Netflix was planning to lay offfive percent of the company, today the streamer’s co-CEOs Ted Sarandos and Greg Peters announced in an email that it would actually be laying off six percent of its workforce, or around 1,000 employees, according toVariety, which obtained a copy of the memo. That makes this Netflix’s largest round of layoffs so far, following the companycutting 150 jobs in May 2022, and anadditional 300 in June 2022in an attempt to reduce costs following slower revenue growth.
Today’s layoffs will mostly affect staff in Netflix’s product, technology, human resources, and legal teams, according to today’s memo. “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,” said the CEOs. “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’srevenue increased to $45.2 billion in 2025while its net income increase to $11 billion from 325 million subscribers. From 2024 to 2025 the streamer’s advertising business also more than doubled its revenue to $1.5 billion as a result of continued growth of its $7.99 per monthad-supported planthat had over 9.4 million subscribers as of May 2025.
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