Netflix is laying off roughly 6% of its employees, with most of the cuts in its product, technology, legal and HR teams. Co-chief executives Ted Sarandos and Greg Peters told staff in a memo on 14 October 2026, which Variety published in full.
They wrote that “we are making a number of organizational changes and, as a result, we’ll be letting go of roughly 6% of our colleagues, with the greatest impact to our product, tech, legal, and HR teams”, according to Variety.
The memo does not give a number. Variety reported the cuts amount to around 1,000 jobs, and that Netflix had about 16,000 full-time employees at the end of 2025. Variety described it as Netflix’s biggest layoff to date. A Netflix spokesperson told Variety the company had no comment beyond the memo.
Why Netflix says it is cutting
The co-CEOs said the business is doing well. “Our business is strong and growing, and we remain on track to deliver our full year forecast,” they wrote.
They framed the cuts as a matter of priorities: “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 will “continue to invest aggressively in high impact areas”, which means “making focused choices across the business”.
The memo does not mention AI as a reason for the cuts.
Variety noted that Netflix’s last major layoffs were in 2022, when it cut about 450 staff after losing subscribers. Netflix reports its third-quarter results on 20 October.
What this means
- Cuts while growing. Netflix says business is strong, but it is still reducing staff.
- Tech teams are hit hardest. Product and technology are among the most affected areas.
- More detail may come. Netflix’s results on 20 October could shed more light on its plans.
Sources
- Variety (Todd Spangler), “Netflix Lays Off 6% of Employees, Elimination About 1,000 Jobs in Biggest Cutbacks to Date”, 14 October 2026, including the full memo. https://variety.com/2026/tv/news/netflix-layoffs-1000-employees-1236911239/
