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Netflix is laying off close to 1,000 employees who comprise about 6% of its employees, in what could be termed its biggest wave of job cuts since 2022, according to The Wall Street Journal report on Wednesday (October 14, 2026). The move comes as the streaming company faces mounting competition for viewers’ attention and looks to sharpen its business priorities.
The job reductions were outlined in an email sent to employees by Netflix co-CEOs Greg Peters and Ted Sarandos, the Journal reported. Netflix had approximately 16,000 full-time employees at the end of 2025. A 5% reduction based on that workforce would affect around 800 employees.
The layoffs are expected to affect employees in product development, technology, legal and human resources, according to the report. The precise impact on individual teams has not been detailed publicly.
The reductions mark a notable change for a company that has expanded its operations beyond traditional subscription streaming in recent years. Netflix has been investing in new formats and services, including advertising, live programming and gaming, as it seeks to diversify revenue and keep audiences engaged.
Media companies are consolidating their businesses, while YouTube is attracting a growing share of viewers and advertising spending. These shifts are changing how streaming companies compete for audience attention and generate revenue.
Netflix has broadened its programming strategy in an effort to attract different audiences and create more reasons for members to return to the platform. However, expanding into new areas also requires decisions about where to direct spending and staff resources.
Also Read: AI Layoffs vs AI Hiring: How Firms Are Restructuring Jobs in 2026
Advertising has become an increasingly important part of the company’s strategy, while live events and games offer opportunities to keep subscribers engaged. However, Netflix has not confirmed whether these investments are connected to the reported job cuts.
Netflix’s restructuring comes amid wider shifts in the global media industry. Earlier this year, the company lost out to Paramount Skydance in the contest for Warner Bros Discovery’s streaming and studio assets. Paramount completed its reported $110 billion acquisition earlier this month, creating a larger media group and adding another significant player to an already competitive market.
