Netflix is laying off around 1,000 employees
Following a report last week that Netflix was planning to lay off five percent of the company, today the streamer's co-CEOs Ted Sarandos and Greg Peters announced in an email that it would actually be laying off six percent of its workforce, or around 1,000 employees, according to Variety, which obtained a copy of the memo. That makes this Netflix's largest round of layoffs so far, following the company cutting 150…
Key points
- Netflix is cutting about 1,000 jobs, or six percent of its workforce.
- The layoffs mainly hit product, technology, human resources and legal teams.
- Netflix reported $45.2 billion revenue in 2025 and $11 billion net income.
Netflix co-CEOs Ted Sarandos and Greg Peters announced in an email that the company is laying off about 1,000 employees, or six percent of its workforce. The memo, obtained by Variety, follows a report last week that Netflix planned to cut five percent of staff.
This is Netflix's largest round of layoffs so far, after 150 jobs were cut in May 2022 and another 300 in June 2022 to reduce costs amid slower revenue growth.
Which teams are affected
The layoffs will mostly affect staff in Netflix's product, technology, human resources and legal teams, according to the memo.
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
— Ted Sarandos and Greg Peters
What the CEOs said
The CEOs said the company's mission to entertain the world is ambitious and requires discipline about where it prioritizes people and resources. They said Netflix will keep investing aggressively in high-impact areas to improve its service and drive growth and innovation, making focused choices across the business.
Netflix's revenue rose to $45.2 billion in 2025 and its net income increased to $11 billion from 325 million subscribers. From 2024 to 2025, its advertising business more than doubled revenue to $1.5 billion, driven by growth of its $7.99 per month ad-supported plan, which had over 9.4 million subscribers as of May 2025.
