Netflix is cutting roughly 1,000 jobs, or six percent of its workforce, the company's co-CEOs Ted Sarandos and Greg Peters told employees in an email sent today. The streaming service had been expected to lay off about five percent of staff following a report last week, but the memo confirmed a larger reduction.
The cuts fall mainly on Netflix employees in the product, technology, human resources, and legal teams, according to the memo. Variety obtained a copy of the message. The co-CEOs said the company's mission to entertain the world is ambitious and requires discipline about where it prioritizes people and resources.
Sarandos and Peters said Netflix will keep investing aggressively in high-impact areas to improve its service and drive growth and innovation. They said that approach means making focused choices across the business so the company can keep delivering for its members, partners, employees, and investors.
This is the largest round of layoffs at Netflix to date. The company previously cut 150 jobs in May 2022 and another 300 in June 2022 as it tried to reduce costs after slower revenue growth. The two earlier rounds together totaled fewer positions than the reduction announced today.
The layoffs arrive as Netflix continues to weigh spending across its operations, with the co-CEOs framing the decision as a reallocation toward areas they consider high impact rather than a broad retreat. The affected teams include groups that work on the company's product and technology, along with its human resources and legal functions.
For US subscribers, the change affects the internal teams behind the streaming service rather than its programming or pricing. Netflix has not said how the cuts will affect its service, and the memo did not address that question.
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