Netflix is laying off around 1,000 employees, about 6% of its workforce, in the streaming giant's biggest round of job cuts to date.
Co-CEOs Ted Sarandos and Greg Peters told staff in an email Wednesday that the reductions would hit product, technology, legal and HR teams hardest.
"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 pair wrote in the memo.
The cuts land as Netflix, the world's largest premium streaming service with more than 325 million subscribers globally, faces investor concern over slowing per-user engagement in the first half of 2026 despite continued top-line growth.
The company posted $45.2 billion in revenue and $11 billion in net income for 2025, up 16% and 26% respectively, and projects 2026 revenue of $51.0 billion to $51.4 billion with an operating margin of 31.5%, versus 29.5% in 2024.
Netflix had about 16,000 full-time employees at the end of 2025.
The last major reduction came in 2022, when the company cut around 450 jobs following its first subscriber decline in over a decade; smaller cuts have followed since, including layoffs within its global product team earlier this year.
Sarandos and Peters said the company remains "on track to deliver our full year forecast" while making "focused choices across the business."
Netflix reports third-quarter earnings on 20 October.
