Finance

Netflix Cuts 6% of Staff as Growth Slows

Is Netflix coasting on price hikes with a thinning slate or is it a disciplined giant?

10 hours ago·Updated 1 hour ago

Netflix Cuts 6% of Staff as Growth Slows

Story

Above: The Netflix Tudum Theater in Los Angeles, California, on May 29. Image credit: Michael Yanow/NurPhoto/Getty Images

The Facts

Netflix is laying off about 6% of its workforce, or roughly 1,000 employees, co-CEOs Greg Peters and Ted Sarandos told staff in a memo Wednesday, with the product, tech, legal and human resources teams expected to be the most affected.
The Washington Post
Reuters
Fox Business
The reductions come as the company contends with slowing growth and customer engagement. The Wall Street Journal first reported on the email sent to employees Wednesday morning.
New York Post
Deadline
Netflix had about 16,000 employees at the end of last year. Engagement, or the time users spend on the service, has become a key investor concern as free platforms such as YouTube and TikTok attract viewers and Netflix's viewing time stagnates.
CNBC
The Guardian
The Washington Times
Sarandos told the Bloomberg Screentime summit on Sept. 30 that the company is "not growing as fast as I want us to." Netflix is scheduled to report third-quarter results on Oct. 20, when it is expected to share more details.
The Hollywood Reporter
BBC News
Seeking Alpha
Netflix posted $45.2 billion in revenue and $11 billion in net income for 2025 and projects 2026 revenue of $51 billion to $51.4 billion. Its last major staff reduction came in 2022, when about 450 workers were let go.
TheWrap
Variety
The layoffs follow cost cutting elsewhere in Hollywood, with Disney eliminating hundreds of jobs this year, and come after Paramount's $81 billion purchase of Warner Bros. Discovery placed HBO Max and Paramount+ under Skydance.
ABC News
NBC News
The Washington Times

Sources Split

LEFT

CENTER

RIGHT

ESTAB
CRIT

CENTER

PRO
ESTAB

The Spin

Narrative A

Netflix is coasting on price hikes while viewers drift to free short video. YouTube already draws more daily viewings and TikTok is closing in, and a service built on long shows and monthly bills cannot win that fight by charging more. Chasing games, podcasts and live stunts scatters focus from the originals that made canceling feel impossible.

Barchart.com

Insider Monkey

Narrative B

Trimming staff at a profitable, growing company is discipline, not distress. A global production machine, a maturing ad business and must-watch live events stack up more ways to make money than any rival can copy. With the stock beaten back to where it sat two years ago, the setup now rewards buyers willing to look past one soft content cycle.