Netflix Announces Layoffs of Approximately 1,000 Employees, Six Percent of Workforce

Netflix co-CEOs Ted Sarandos and Greg Peters announced today that the streaming giant will lay off approximately 1,000 employees, representing six percent of its workforce. This figure is higher than the five percent initially reported last week, according to Variety, which obtained an email memo detailing the decision.

This round of job cuts marks Netflix's largest to date, following previous reductions of 150 jobs in May 2022 and an additional 300 in June 2022. These measures are part of ongoing efforts to reduce costs amid slower revenue growth. The current layoffs will primarily affect staff across the company's product, technology, human resources, and legal teams, as stated in the memo.

The CEOs affirmed the company's commitment to its mission, stating, “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.” They added that Netflix would continue to "invest aggressively in high-impact areas to improve our service and further drive growth and innovation," necessitating "focused choices across the business."

Financially, Netflix reported a revenue increase to $45.2 billion in 2025, with net income rising to $11 billion from 325 million subscribers. The streamer's advertising business also saw significant growth, more than doubling its revenue to $1.5 billion between 2024 and 2025. This growth was attributed to the continued success of its $7.99 per month ad-supported plan, which had over 9.4 million subscribers by May 2025.

What to watch: The impact of these strategic shifts on Netflix's subscriber growth and content strategy.

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