Netflix to Cut About 6% of Worldwide Workforce
· Business · NBC News, CBS News
Netflix is eliminating approximately 6% of its global workforce, amounting to roughly 1,000 jobs, following an internal announcement made on Wednesday. Co-chief executives Greg Peters and Ted Sarandos confirmed the layoffs in an email to staff, citing the need to prioritize resources as subscriber growth slows. The reductions will primarily impact the company's product, technology, legal, and human resources departments. The streaming giant recently reported that users watched over 97 billion hours of content in the first half of 2026, representing a modest 2% year-over-year increase. Netflix is scheduled to release its third-quarter financial results next Tuesday.
Why it matters
The layoffs signal ongoing cost-cutting measures at a major streaming platform struggling with user engagement growth, impacting hundreds of tech and product employees worldwide.
Read the original report — NBC News
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