Netflix to chop about 6% of worldwide workers

Netflix is eliminating about 6% of its worker roster, or roughly 1,000 jobs, in a spherical of layoffs introduced internally Wednesday, in response to a supply with data of the matter.

“Our mission — to entertain the global community — is bold, and delivering on it requires us to be disciplined about the place we prioritize our individuals and sources,” Netflix co-chief executives Greg Peters and Ted Sarandos stated in an e mail to workers members Wednesday.

The information was first reported by The Wall Street Journal. The supply with data of the matter confirmed the newspaper’s reporting was correct.

Netflix stays one of many titans of streaming, but it surely has struggled to spice up consumer engagement on the platform. The service’s customers watched greater than 97 billion hours of content material within the first half of 2026, a rise of two% year-over-year, in response to the corporate’s most recent quarterly earnings report.

“Overall, we’re not rising as quick as I need us to, and we’re engaged on making that transfer sooner,” Sarandos stated at Bloomberg’s annual media convention late final month.

Netflix is anticipated to report its third-quarter monetary outcomes subsequent Tuesday.

The majority of the job cuts might be concentrated in Netflix’s product, know-how, authorized and human-resources groups.

Peters and Sarandos stated the streaming agency will “proceed to speculate aggressively in excessive influence areas” whereas additionally “making targeted decisions throughout the trade so we are able to preserve delivering for our members, companions, workers and buyers.”

In latest months, Netflix has seemed for methods to spice up subscriber engagement, together with including reside sports activities programming and video podcasts licensed from third-party corporations resembling Bill Simmons’ The Ringer.

Netflix’s layoffs come as different main Hollywood studios look to cut back prices and streamline operations.

The Walt Disney Co. has minimize a whole bunch of jobs this yr underneath new Chief Executive Josh D’Amaro, in response to a supply accustomed to the matter. David Ellison’s Skydance is broadly anticipated to shrink its work power throughout Paramount and Warner Bros. Discovery.