Netflix is laying off roughly 6% of its workforce

Netflix is cutting roughly 6% of its global headcount - about 1,000 positions - with the largest impacts in product, technology, human resources and legal. The reductions were announced in an internal memo from co-CEOs Ted Sarandos and Greg Peters and affect teams charged with building and supporting the streaming service. The company did not provide additional public comment beyond that internal note.

Leadership framed the move as a reallocation of resources to higher-impact areas, saying disciplined prioritization is required to pursue its goal of entertaining a global audience while remaining on track to meet full-year financial guidance. The timing comes just ahead of the company’s quarterly earnings report, and follows recent remarks from Sarandos that growth is not happening as quickly as management would like. The memo emphasized continued investment in initiatives expected to drive growth and innovation while making focused organizational choices to support members, partners, employees and investors.