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Netflix is reportedly cutting about 1,000 jobs worldwide, representing roughly 6% of its workforce, its largest round of layoffs since 2022.
The job cuts, first reported by The Wall Street Journal on Wednesday, come less than a week before the streaming giant is scheduled to release its third-quarter financial results on Oct. 20.
The reductions will primarily affect Netflix’s product, technology, legal and human resources departments, the Journal reported, citing an internal email sent to employees by co-CEOs Ted Sarandos and Greg Peters.
The reported layoffs come as Netflix navigates growing competition for viewers’ attention and invests in new businesses beyond its traditional streaming subscription model.
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The company has increasingly expanded into advertising, live programming and gaming as it seeks to diversify its offerings and generate additional revenue.
Despite the planned workforce reductions, Sarandos and Peters indicated that Netflix remains on track to meet its full-year financial forecast, according to the Journal.
The executives told employees the company would continue investing in key priorities while taking a more selective approach to allocating resources, the report said.
Netflix reported approximately 16,000 full-time employees as of Dec. 31, 2025, including about 10,900 in the United States and Canada, according to its annual filing with the Securities and Exchange Commission.
Wednesday’s report follows earlier indications of potential workforce reductions. Puck News previously reported that Netflix was preparing to eliminate approximately 5% of its staff. Reuters reported on Oct. 9 that Netflix declined to comment on the earlier report.
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Netflix last made substantial workforce reductions in 2022, when it eliminated hundreds of positions following its first quarterly subscriber decline in more than a decade.
The reported job cuts come after Netflix’s unsuccessful pursuit of Warner Bros. Discovery’s streaming and studio assets. Netflix announced in February that it would not raise its offer for those assets.
Paramount Skydance subsequently completed its approximately $110 billion acquisition of Warner Bros. Discovery earlier this month, bringing major entertainment and streaming properties under one company.
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Netflix did not immediately respond to FOX Business’ request for comment on Wednesday’s reported layoffs.
Reuters contributed to this report.
