Netflix cuts 1,000 jobs, 6% of workforce, in largest layoff since 2022

2 weeks ago·1 min read·9 outlets

The short version

Netflix announced it would cut about 1,000 employees, roughly 6% of its workforce, in its largest round of layoffs since 2022. The cuts mainly affect product, technology, human resources and legal teams.

Netflix announced it would cut about 1,000 employees, roughly 6% of its workforce.9 ,7 ,6 ,5 ,4 ,3 ,1 The layoffs are the company’s largest round of job cuts since 2022.9 ,7 ,6 ,4 A memo from co‑CEOs Greg Peters and Ted Sarandos detailed the cuts.8 ,4

The memo was obtained by CNBC and The Verge.3 ,4 Most affected departments are product, technology, human resources, and legal.8 ,4 ,1 Netflix had about 16,000 staff at the end of last year.2

Earlier in 2022 the company cut 150 jobs in May and 300 in June.4 The layoffs followed a prior report that the company would cut five percent of staff.4 CEOs told employees that the business is strong and growing.2

The cuts are part of a broader effort to reduce costs amid slower revenue growth.4

“business is strong and growing”

Greg Peters and Ted Sarandos2

Why it matters

Netflix is a global streaming service that employs around 16,000 people worldwide.2
The company had previously reduced staff in 2022 to curb costs after revenue growth slowed.4
The memo was shared with employees via email.4

More on
Jobs

This account was written from the 9 reports listed below, filed by 9 independent outlets, and checked against them line by line. It is not a copy of any one of them. Spotted an error? Tell us.

Ask Factliner

The story, the context, the sources.

Loading conversation…

9 source reports

9 outlets · 2 countries · citation numbers match the article

Reading settings

Comments

Comments are screened automatically. Disagreement is welcome; abuse and spam are not.

Loading…

Business·3 months ago

Disney profit beats forecasts as streaming plans expand

Disney's third-quarter profit exceeded Wall Street estimates, driven by theme parks and box office hits, while the company explores a free streaming tier to attract more viewers.

71m

U.S. Department of Health and Human Services / Public domain

Politics·3 months ago

Senate confirms Erica Schwartz as CDC director

The Senate voted 51-44 to confirm Erica Schwartz as director of the Centers for Disease Control and Prevention, ending a year-long vacancy at the agency.

31m

World·3 months ago

Two streamers convicted of online violence in the Pormanove case

Streamers Naruto and Safine receive suspended sentences and a digital ban for online violence and humiliation related to the death of Jean Pormanove in 2025.

31m