The key facts
- Netflix is cutting about 1,000 jobs, around 6% of its workforce - the largest layoffs since 2022
- Most cuts affect product development, technology, legal, and HR divisions
- Netflix's market capitalization has fallen almost 25% since the start of 2026, to $293 billion
MOSCOW, October 14. /INTERFAX.RU/ - The American company Netflix Inc., the world's largest subscription video streaming service, is cutting approximately 1,000 jobs, which amounts to about 6% of the company's workforce. This was reported by The Wall Street Journal, citing an email that the company's co-CEOs Greg Peters and Ted Sarandos sent to employees.
These layoffs will be the largest since 2022, the publication notes.
"Our mission - to entertain the world - is ambitious, and fulfilling it requires us to be disciplined in setting priorities for our people and resources," the letter to employees says.
The decision to cut jobs was made amid fierce competition for user attention in the media market. Most of the layoffs will affect divisions involved in product development, technology, legal matters, and human resources.
As of the end of 2025, Netflix's workforce numbered about 16,000 full-time employees.
Since the beginning of 2026, Netflix's market capitalization has fallen by almost 25% (to $293 billion), while the Nasdaq Composite stock index has gained more than 16%.
