Netflix announced plans on October 14 to eliminate roughly 6% of its workforce, or about 1,000 jobs, in a major reduction affecting the streaming company’s product, technology, legal and human resources teams.
Co-chief executive officers Greg Peters and Ted Sarandos disclosed the changes in an employee memo reviewed separately by Reuters and The Associated Press. Reuters described the reduction as Netflix’s largest since 2022.
The executives said the business remains strong and on track for its full-year forecast, while presenting the cuts as a reallocation of people and resources. That is management’s explanation, not an independently established assessment of the company’s outlook.
The memo published by Business Insider says notification procedures will vary by country and managers will contact affected employees. Netflix declined further comment beyond the memo, according to the Associated Press.
A country-by-country breakdown, detailed exit timetable and any resulting changes to programming, advertising operations or service delivery remain unconfirmed. The memo does not establish a streaming-service interruption.