Netflix cutting workforce as its revenue growth slows

The layoffs will affect the company’s product, tech, legal and HR teams, Netflix leaders said in a memo to employees.

The layoffs will affect the company's product, tech, legal and HR teams, Netflix leaders said in a memo to employees. Netflix said it is laying off roughly 6% of its workforce, according to a memo to employees obtained by CBS News. The cuts will impact the company's product, technology, legal and human resources departments, Netflix co-CEOs Ted Sarandos and Greg Peters wrote in the memo. "Our business is strong and growing, and we remain on track to deliver our full-year forecast," Sarandos and Peters said. "We'll continue to invest aggressively in high-impact areas to improve our service and further drive growth and innovation. Doing that means making focused choices across the business so we can keep delivering for our members, partners, employees, and investors." The news was first reported by the Wall Street Journal.

The news outlet said Netflix's job cuts will impact roughly 1,000 positions globally, the company's largest workforce reduction since 2022. Netflix had roughly 16,000 full-time employees as of December 2025, according to a securities filing. Netflix remains profitable. In its second financial quarter, the company earned $3.4 billion on revenue of nearly $12.6 billion, up 9% and 13%, respectively, from the year-ago period. Yet Netflix's growth has slowed in recent years amid mounting competition from other streaming platforms and a saturated North American market. Netflix shares,