Netflix is cutting roughly 1,000 jobs in the largest workforce reduction in the company’s history, a move that lands just days before the streamer reports its latest financial results. The cuts amount to approximately 6% of Netflix’s staff and will fall largely on product, technology, legal, and human-resources teams, according to an internal memo from co-CEOs Ted Sarandos and Greg Peters obtained by Variety. The Verge first reported the expanded scale of the reductions after earlier reports pointed to a cut of about 5%.
The size of the reduction is notable even for a company that has repeatedly emphasized efficiency. Netflix had approximately 16,000 full-time employees at the end of 2025, making the announced total broadly consistent with the six-percent figure. CNBC reports that the company told employees its business remains strong and that it is still tracking toward its full-year forecast, suggesting the layoffs are being presented as a strategic reallocation of resources rather than an emergency response to an imminent crisis.
Netflix’s next earnings report will provide the first major public test of that explanation. The company is scheduled to release its third-quarter 2026 results on October 20, followed by an investor interview listed on its official investor-relations calendar. The timing puts renewed attention on revenue growth, engagement, advertising, and the company’s ability to keep spending heavily on programming while tightening its corporate structure.
This is not Netflix’s first major retreat from its pandemic-era expansion. In 2022, the company eliminated about 150 positions in May and another 300 in June as growth slowed and the service reported its first subscriber loss in more than a decade. Contemporary coverage from TechCrunch described the second round as roughly 3% of the workforce at the time, while Reuters documented the earlier 150-job reduction.
For viewers, the immediate impact is unlikely to be a visible change to the Netflix app or its release calendar, since the cuts are concentrated in corporate and technical departments rather than announced as a programming cancellation. The longer-term question is what a smaller product and technology organization means for the features Netflix is building around discovery, advertising, games, and viewer retention. Sarandos recently acknowledged that Netflix was “not growing as fast as I want us to,” according to Forbes, making next week’s results a crucial indicator of whether the layoffs are primarily cost control—or the opening move in a broader reset.
