Netflix Layoffs Expected: Streamers Aims to Cut Workforce by 5%
Netflix is planning a major round of layoffs, according to a new report. The streaming giant intends to restructure and eliminate approximately 5% of its headcount, which could be announced as early as next week.
This potential reduction would impact roughly 800 jobs, based on Netflix's 2025 figure of 16,000 full-time employees.
A Netflix spokesperson declined to comment on the report. It remains unclear which departments will be most affected.
The last significant layoffs at Netflix occurred in 2022, when the company laid off around 450 staffers following a subscriber decline. Smaller cuts have been made since, including letting go of several dozen members of its global product team earlier this year.
Ted Sarandos, Netflix's co-CEO, acknowledged at a recent conference that while the company is growing, it wants to accelerate its expansion:
"We want to keep growing it faster."
However, he also highlighted challenges, including increased competition and investments in live programming, which consume a significant portion of their content budget.