Netflix Cuts About 1,000 Jobs in Biggest Layoff Since 2022
Netflix is cutting about 6% of its workforce, roughly 1,000 positions, in its largest round of layoffs since 2022, as the streaming pioneer faces tougher competition for viewers' time and a skeptical Wall Street.
Netflix is laying off about 6% of its staff, or roughly 1,000 workers, in the company’s biggest round of layoffs since 2022, according to an email to employees from co-CEOs Greg Peters and Ted Sarandos first reported by the Wall Street Journal.
The cuts would be the largest in the streaming giant’s history, according to Fast Company. Mass layoffs have been relatively rare at Netflix, though they have become a common story in the tech industry this year: outplacement firm Challenger, Gray & Christmas found that technology companies announced 165,925 job cuts from January through September 2026, a 54% increase over the same period in 2025.
Netflix declined further comment, Fast Company reported. The company last carried out a large round of layoffs in 2022, when it cut 3% of its staff. Netflix reported about 16,000 employees at the end of last year.
Growth story under pressure
Netflix shares rose about 1.1% in early trading Wednesday after the layoff news broke, but the stock is still down about 21.7% year to date. Fast Company reported that subscriber growth, long the center of Netflix’s story, has stalled since the company stopped reporting that metric in 2025, and that it recently pulled back on its “What We Watched” viewership reports.
Netflix is set to report earnings on October 20.
Reporting based on coverage by Fast Company and the Wall Street Journal.
