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 jobs in May 2022, and an additional 300 in June 2022 in an attempt to reduce costs following slower revenue growth.

Today’s layoffs will mostly affect staff in Netflix’s product, technology, human resources, and legal teams, according to today’s 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,” said the CEOs. “We’ll continue to invest aggressively in high-impact areas to improve our service and further drive growth and innovation. Doing that means making focused choices across the business so we can keep delivering for our members, partners, employees, and investors.”

Netflix’s revenue increased to $45.2 billion in 2025 while its net income increase to $11 billion from 325 million subscribers. From 2024 to 2025 the streamer’s advertising business also more than doubled its revenue to $1.5 billion as a result of continued growth of its $7.99 per month ad-supported plan that had over 9.4 million subscribers as of May 2025.