The layoffs arrive one week before the company reports third-quarter earnings and follow a decline of more than 40% in its share price over the past year. Despite the headcount reduction, Netflix is maintaining its full-year financial outlook. A co-CEO noted earlier this month that growth was not as rapid as desired for the firm, which employs approximately 16,000 people.
Tuesday, October 20, 2026
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Netflix Cuts 1,000 Jobs in Largest Layoffs Since 2022
Business6 days ago
Roughly 6% of the workforce at the world's leading streaming service is being eliminated to address stagnant user engagement and growth. Netflix is cutting about 1,000 positions globally across its product, tech, legal, and HR departments, as reported by the Wall Street Journal. This represents the most significant staff reduction the company has undertaken since 2022.
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