Netflix Plans to Cut Around 1,000 Jobs Amid Viewership Decline

Amid a significant drop in viewership, Netflix is reportedly set to eliminate about 1,000 jobs. This would be the company’s largest round of layoffs since 2022, according to reports.

An internal memo, sent to employees on Wednesday, indicated that roughly six percent of the workforce would be let go. The layoffs are expected to impact various teams, including those in product, legal, technology, and human resources.

Co-CEOs Greg Peters and Ted Sarandos conveyed a message to staff addressing these substantial cuts, stating, “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,” as reported by The Wall Street Journal.

This move comes as Netflix finds itself in competition with other streaming giants like Disney and Amazon, as well as the new contender Skydance. Interestingly, experts suggest that even though viewership is down, Netflix’s streaming service prices may actually see an increase.

Despite the challenges, Netflix still boasts 325 million subscribers globally, which is a higher number than any other streaming platform. However, that figure reflects a notable 40% drop in 2026.

Peters and Sarandos reassured employees that the company remains on track to meet its earnings forecast and will “continue to invest aggressively in high impact areas,” as detailed in the memo obtained by The New York Post.

Interestingly, following the announcement of these layoffs, Netflix’s stock experienced a one percent rise.