Netflix Cuts 1,000 Jobs in Its Biggest Layoff Round Since 2022

Netflix is cutting about 1,000 jobs, roughly 6% of its workforce, in its largest round of layoffs since 2022. The cuts were announced Wednesday in an internal memo from co-CEOs Ted Sarandos and Greg Peters, according to reporting by TheWrap and The Hollywood Reporter.

The memo says the cuts will fall most heavily on product, technology, legal and human resources teams. It says the process will differ by country, and that managers will contact affected employees directly.

“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,” the co-CEOs wrote, according to Variety, which obtained the memo.

The executives told employees the business is strong and growing and remains on track to deliver its full-year forecast. Netflix projected 2026 revenue of $51 billion to $51.4 billion in July. It reports third-quarter earnings on Tuesday, Oct. 20, after the market closes.

Film division executive Doug Belgrad is among those leaving, The Hollywood Reporter reported, citing unnamed sources. Belgrad joined Netflix in 2024 after leading Columbia Pictures for Sony and served as a liaison between Sony and Netflix on film deals.

The company last cut jobs at this scale in 2022, when it eliminated about 450 positions after reporting its first quarterly subscriber decline in more than a decade. Netflix had about 16,000 full-time employees at the end of 2025.

The announcement came a month after Sarandos told a Los Angeles media conference the company was not growing as fast as he would like. Last fall, Netflix held talks on a potential acquisition of Warner Bros. Discovery’s studio and streaming assets; the talks collapsed.