Business · Netflix layoffsNetflix Begins Cutting About 1,000 Jobs While Keeping Its Financial TargetsAired October 14, 2026 at 7:00 PM UTCWritten October 14, 2026 at 7:03 PM UTCRead the write-upThis storyTranscript · LOADING0:07Netflix has begun cutting about a thousand jobs.0:10The reduction reaches roughly 6% of its global workforce, even as Netflix says its0:14business remains strong.0:16The unresolved issue is why the company is removing jobs while keeping its financial0:20targets.0:20Netflix puts the reduction at about a thousand positions, roughly 6% of its global0:25staff.0:26Layoffs are underway, and those estimates describe the announced scale.0:30The final number of people who leave will depend on how the reduction unfolds.0:33Most cuts fall within product, technology, legal, and human resources.0:38That puts the impact across teams that develop the service and support the business.0:42Netflix describes the reduction as global, but the country-by-country allocation is0:46still unclear.0:47Greg Peters and Ted Sarandos emailed employees on Wednesday morning, October 14th.0:52The two co-chief executives announced the cuts together, and the layoffs began that0:56day.0:57The staff announcement set the restructuring in motion.1:005% was the earlier estimate.1:02On October 9th, a possible restructuring was expected to affect about that share of1:06employees.1:07Netflix declined to comment.1:08Then, the announcement arrived within the anticipated following week, but the1:12company confirmed estimate grew to about six percent.1:15About five percent described the possible cuts before Netflix confirmed them.1:18About six percent describes the reduction now underway.1:21Both percentages are rounded, so they can't supply an exact headcount for the1:25company or an exact increase in affected jobs.1:28Netflix is also committing to continued investment.1:31Its response promises spending in selected areas to improve the service alongside1:35the job reductions.1:36The company describes the cuts as part of broader organizational changes.1:40Netflix says it will continue to invest aggressively in high-impact areas to improve1:45its service.1:46The company is choosing where to keep spending while removing positions elsewhere.1:49It also says it's on track to meet its full-year forecast.1:52Ted Sorandoz had already expressed frustration with the pace of growth.1:55At an industry summit the previous month, he said Netflix wasn't growing as fast as1:59he wanted.2:00The latest published quarterly figures show revenue increasing, even with that2:04desire for faster growth.2:05Netflix reported about $12.6 billion in second quarter revenue.2:10up 13% from a year earlier.2:12Excluding currency movement's growth was 12%.2:15Its operating margin was 33%.2:18The share of revenue left after operating expenses.2:21Netflix said both revenue and operating margin met its guidance.2:24Those results were published on July 16th, three months before the layoffs.2:28They provide the financial backdrop to the decision, while the third quarter's2:31performance is still awaiting publication.2:33Netflix's April revenue forecast was $50.7 to $51.7 billion.2:38July narrowed it to $51.0 to $51.4 billion.2:42The midpoint stayed the same, and the full-year operating margin target remained2:4631.5%.2:48Those are annual targets with the year still in progress.2:51Netflix's October assurance keeps that outlook in place.2:54The company is pairing job cuts with maintained financial goals and continued2:59investment, but it hasn't fully explained why these particular positions were3:03selected.3:03About a thousand positions are being eliminated in a single round.3:07Its exact place in Netflix's layoff history is uncertain.3:10A largest ever round would also be the largest since 2022, but the comparable3:15historical totals aren't clear enough to settle that ranking.3:17Affected employees face the loss of their jobs with the financial terms still3:21unclear.3:22It's not yet clear what severance or continued benefits they'll receive.3:26The announcement also leaves individual notification and departure dates unresolved.3:30Netflix's next financial checkpoint is October 20th.3:33The company scheduled its third quarter results in a September 14th announcement for3:37approximately 1.01 in the afternoon Pacific time.3:40Those results will show how the business performed against its targets, though3:43Netflix hasn't promised they will explain every part of the restructuring.Explore with HeyDexFollow via RSSThe shortThe short ↗