Netflix is cutting about 1,000 jobs, roughly 6% of its staff, in its biggest layoff since 2022. Co-CEOs Greg Peters and Ted Sarandos announced the cuts in an email to employees on Wednesday, October 14, 2026, according to The Wall Street Journal, which first reported it, and Reuters, which saw the memo. Most of the cuts fall on the product, tech, legal and human resources teams.
The news confirms, and slightly enlarges, what Puck reported on October 9: about 5% of staff, or 800 to 850 jobs. Netflix had about 16,000 full-time employees at the end of 2025, according to its annual report, so 1,000 jobs is a little over 6%.
Netflix layoffs: what is confirmed (October 14, 2026)
- Size: about 1,000 jobs, roughly 6% of the workforce (CEO memo, via Reuters and the WSJ)
- Who is affected: mostly product, tech, legal and HR teams
- Announced by: co-CEOs Greg Peters and Ted Sarandos, in an email to staff
- What they said about the business: “Our business is strong and growing, and we remain on track to deliver our full-year forecast”
- Official headcount: about 16,000 full-time employees at December 31, 2025 (Form 10-K)
- Next: third-quarter results on October 20; no SEC filing or WARN notice yet
Update, October 16: a day after the layoffs, Netflix replaced chief content officer Bela Bajaria with former Disney executive Peter Rice. Read what happened.
Update, October 21: in its third-quarter results, Netflix said the layoffs will weigh on profits: its Q4 operating margin forecast of 26.0% “includes ~120 basis points negative impact associated with our recently announced headcount reductions.” On forecast Q4 revenue of $13.44 billion, that is roughly $160 million (our calculation). Q3 revenue grew 12% to $12.9 billion. Source: Netflix Q3 2026 shareholder letter.
What the memo says
The email from the two co-CEOs presents the cut as a matter of focus, not of a business in trouble. “Our mission, to entertain the world, is ambitious,” they wrote, adding that the business is “strong and growing” and that Netflix remains on track for its full-year forecast. The excerpts of the memo published so far do not mention AI.
The timing matters: Netflix shares are down sharply this year, the company lost the bidding for Warner Bros. Discovery to Paramount Skydance in February, and investors are watching how much time viewers spend on Netflix compared with YouTube and TikTok. Netflix reports third-quarter results on October 20.
How does a 6% cut compare with other tech layoffs in 2026?
In headcount, 1,000 jobs puts Netflix among the larger tech layoffs of the year. As a share of staff, it is smaller than most: the median cut among companies in our Tech Layoff Tracker that disclosed a percentage is about 14%.
Netflix’s layoff history
| When | Size | Context |
|---|---|---|
| May 2022 | About 150 employees | After Netflix lost subscribers in early 2022 for the first time in a decade |
| June 23, 2022 | About 300 employees | Second round; a spokesperson confirmed “around 300 employees” |
| October 14, 2026 | About 1,000 employees (about 6%) | Announced by the co-CEOs in a memo, before Q3 earnings |
The October 2026 cut is more than twice the size of the two 2022 rounds combined, which totaled about 450 jobs.
Why would a profitable company cut jobs?
That is the first question many people asked online. In a discussion on Reddit’s r/boxoffice, the most common explanations were:
- Investor pressure: several users pointed to the share price and the need to show growth and “efficiency” to Wall Street before earnings. Puck itself noted the stock has been under pressure since the failed bid for Warner Bros.
- Netflix’s culture: others noted that Netflix has long been open about keeping only top performers, and that turnover there is high.
- AI and office jobs: some users linked the cut to AI squeezing corporate roles. The excerpts of the co-CEOs’ memo published so far do not mention AI.
These are opinions from an online forum, not facts about Netflix’s plans.
If you work at Netflix: what to check now
Do I get advance notice?
Under the federal WARN Act, covered employers must give 60 days’ notice before a mass layoff at one site, and California’s own law adds its own rules. See layoff notice requirements by state. Any California notices will appear in our California WARN tracker.
Should I sign the severance agreement right away?
Read it first: check the release of claims, the deadline to sign and any non-compete terms. Our guide on how to negotiate severance covers what you can ask for.
What happens to my health insurance?
You can usually keep your coverage through COBRA, at a higher cost, or switch to a marketplace plan. See how long insurance lasts after a layoff.
Will there be WARN notices?
If 50 or more people lose their jobs at a single US site, Netflix will have to file WARN notices, mostly in California, where it is based. They will appear in our California WARN tracker and on Layoffs today. We will also update this page if Netflix files a Form 8-K with the SEC.
Track layoffs and the job market
Frequently asked questions
Is Netflix laying off employees in 2026?
Netflix is cutting about 1,000 jobs, roughly 6% of its workforce. Co-CEOs Greg Peters and Ted Sarandos announced the cuts in an email to staff on October 14, 2026; most fall on product, tech, legal and HR teams.
Why is Netflix laying people off?
The co-CEOs framed it as a matter of focus, saying the business is strong and growing and on track for its full-year forecast. The cut comes as Netflix shares have fallen this year and investors worry about competition from YouTube for viewing time.
How many people work at Netflix?
About 16,000 full-time employees as of December 31, 2025, according to the company’s annual report filed with the SEC.
When did Netflix last lay people off?
In 2022, Netflix cut about 150 employees in May and about 300 in June, after losing subscribers early that year.
Sources
- Reuters, via CP24 (co-CEO memo, about 1,000 jobs)
- The Wall Street Journal (first report of the memo)
- Puck, Matthew Belloni (first report, October 9)
- Deadline (Netflix declined to comment)
- Netflix, Form 10-K for 2025 (employee count)
- NPR, June 2022 layoffs
- Tubefilter, 2022 layoff rounds