Netflix Lays Off About 1,000 Staff As Co-CEOs Cite Discipline
A profitable Netflix with strong revenue still trimming headcount signals the streaming business is shifting from land-grab expansion to margin defense, and its biggest categories, product and technology, are where the pain lands.
Reporting from 1 source: GIGAZINE.
Netflix is cutting around 1,000 jobs, about 6% of its workforce, the largest reduction since 2022 and one of the notable tech layoffs of the past twelve months. Teams in product, technology, legal, and HR absorb much of the impact. Co-CEOs Greg Peters and Ted Sarandos told employees the decision was not easy, and tied it to prioritizing people and resources even as business performance holds up but trails analyst forecasts.
In a memo obtained by AP, Greg Peters and Ted Sarandos said the cuts were not made lightly, and linked them to investing in areas that drive future growth and service improvements. Teams in product, technology, legal, and HR are the most exposed. Netflix reported rising profits in 2026 but fell below analyst forecasts, and remains locked in close competition with Amazon Prime Video and Disney+. CNBC noted subscriber viewing time is not growing much, with new subscribers coming mainly from password sharing crackdowns and the cheaper ad-supported tier.
Synthesized by Yomimono from the 1 cited source below, including Japanese-language reporting where cited, then editorially reviewed before publishing.