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Netflix to cut around 1,000 jobs

Published : Thursday, 15 October, 2026 at 8:11 AM

Observer Online Report

Netflix is cutting about 6 per cent of its workforce, or roughly 1,000 jobs, in its biggest round of layoffs since 2022, as the streaming giant faces growing competition from YouTube and traditional media companies.

Most of the job cuts will affect the company's product, technology, legal and human resources departments, according to an internal memo sent by co-chief executives Greg Peters and Ted Sarandos to employees on Wednesday.

“Our mission — to entertain the world — is ambitious, and delivering on it requires us to be disciplined about where we prioritise our people and resources,” the executives said in the memo.

They added that the company's business remained strong and growing and that it was on track to meet its full-year forecast.

Netflix had about 16,000 full-time employees at the end of 2025. The latest cuts mark its largest workforce reduction since it eliminated about 450 jobs in two rounds in 2022, following its first quarterly subscriber decline in more than a decade.

The company has faced growing concerns over its ability to sustain growth as free video platforms such as YouTube and TikTok compete for viewers' time. Investors have also questioned whether Netflix can develop significant revenue sources beyond subscriptions.

Netflix has been expanding into advertising, live programming and gaming to diversify its income. However, its unsuccessful bid for Warner Bros Discovery's streaming and studio assets earlier this year added to questions about its growth strategy.

Netflix shares, which had fallen about 25 per cent so far this year, rose 0.7 per cent on Wednesday.

The Wall Street Journal first reported the latest job cuts, citing an email sent to employees. Reuters reported the development based on an internal memo.

- MaT

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Editor : Iqbal Sobhan Chowdhury

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