Netflix layoffs: 1,000 jobs to go as streaming giant expands into ads, live sports and gaming
Netflix is planning to cut about 6% of its workforce, or roughly 1,000 jobs, in its biggest round of layoffs since 2022, the Wall Street Journal reported on Wednesday, citing an email sent to employees.
The reported job cuts come as the streaming giant faces intensifying competition for viewers’ time in an increasingly consolidated media market. The bulk of the reductions would affect its product, technology, legal and human-resources teams, according to the report, which cited an email sent by co-chief executives Greg Peters and Ted Sarandos on Wednesday morning.
Netflix had about 16,000 full-time employees at the end of last year.
Netflix has been expanding beyond its subscription business, investing in advertising, live programming and gaming to diversify its revenue sources.
However, the company faces pressure to sustain growth and attract viewers as competition intensifies across streaming and entertainment. The Wall Street Journal reported that Netflix has been contending with slower growth and weakening viewer engagement.
Its efforts to expand viewing include video podcasts, shows from YouTube creators, live sports and other events. The Journal has also reported on Netflix’s exploration of live television channels and bundles with other streaming services.
In its July shareholder letter, Netflix said it had launched a partnership with French broadcaster TF1 the previous month, allowing subscribers in France to access TF1’s linear channels and on-demand programming within their existing subscriptions.
Netflix said members watched more than 97 billion hours in the first half of 2026, up 2% from a year earlier. The company described engagement as healthy, saying its assessment considered the quality and variety of programming alongside time spent watching.
Netflix lost out to Paramount Skydance in the bidding war for Warner Bros Discovery’s streaming and studio assets earlier this year.
Paramount completed its $110 billion acquisition of Warner Bros earlier this month, forming a media group with a portfolio of leading news and film studios.
The deal adds to the competitive pressures in the entertainment industry as streaming platforms seek to expand their content libraries, reach audiences and diversify revenue.
Netflix has also announced changes to its viewing disclosures. Beginning in 2027, it will publish its viewing report annually instead of twice a year, saying that separating the disclosure from quarterly results would keep attention on revenue and operating profit. These statements were included in its second-quarter shareholder letter filed with the US Securities and Exchange Commission.
The reported job cuts follow an earlier round of workforce reductions in 2022. Netflix eliminated about 150 positions in May that year and another 300 in June.
In a statement announcing the June cuts, the company said it was aligning cost growth with slower revenue growth while continuing to invest in the business, Reuters reported at the time. The reductions followed Netflix’s first quarterly subscriber decline in more than a decade, according to the Wall Street Journal.
The current market backdrop has also been challenging for the company’s stock. Netflix shares fell more than 40% over the preceding 12 months, the Wall Street Journal reported.
However, the newspaper also cited data from subscription analytics firm Antenna showing that Netflix’s US customer cancellation rate was just over 2%, the lowest among the streaming services tracked.
Netflix is not alone in reducing its workforce. Disney and Amazon have also cut headcount in recent months, according to the Wall Street Journal.
The reported Netflix reductions come as the company continues to broaden its business beyond subscriptions, with advertising, live programming and gaming forming part of its efforts to diversify revenue and attract audiences.
Anjali Thakur is a Senior Assistant Editor with Mint, reporting on trending news, entertainment and health, with a focus on stories driving digital conversations. Her work involves spotting early signals across news cycles and social media, sharpening stories for SEO and Google Discover, and mentoring young editors in digital-first newsroom practices. She is known for turning fast-moving developments—whether news-driven or culture-led—into clear, tightly edited journalism without compromising editorial rigour.<br><br> Before joining Mint, she was Deputy News Editor at NDTV.com, where she led the Trending section and covered viral news, breaking developments and human-interest stories. She has also worked as Chief Sub-Editor at India.com (Zee Media) and as Senior Correspondent with Exchange4media and Hindustan Times’ HT City, reporting on media, advertising, entertainment, health, lifestyle and popular culture.<br><br> Anjali holds a Bachelor of Arts degree from Miranda House, and is currently pursuing an MBA, strengthening her understanding of business strategy and digital media economics. Her writing balances newsroom discipline with a clear instinct for what resonates with readers.
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