Netflix has started laying off about 1,000 employees, roughly 6% of its global workforce, according to a memo from co-CEOs Greg Peters and Ted Sarandos reported on Oct. 14. Deadline called it the company’s biggest round of cuts in four years. Here is what is happening, why, and what it means if you’re one of the millions of Americans who pay for Netflix.
Key facts
- How many: about 1,000 jobs, around 6% of staff worldwide.
- Which teams: mostly product, technology, legal and human resources.
- Why: slower growth; Ted Sarandos recently said Netflix is “not growing as fast as I want.”
- Stock: shares were down about 22% this year before the news.
- Next: quarterly earnings on Oct. 20.
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What Netflix said
In the memo, the co-CEOs said the business is still strong and growing, that Netflix remains on track for its full-year forecast, and that it will keep investing heavily in what they called high-impact areas. Cutting support functions such as legal and HR, rather than content, suggests the company is trying to protect spending on shows, movies, games and live events.
Will Netflix prices change?
The layoff memo did not mention prices. Netflix last raised U.S. prices in March 2026: Standard with ads is $8.99, Standard $19.99 and Premium $26.99 a month. If you want to pay less, see our guide to the cheapest way to get Netflix, which covers free Netflix on some phone plans.
What it means for subscribers
- Your account: nothing changes today. Shows, profiles and billing are unaffected.
- Watch Oct. 20: earnings could bring news on subscribers, ads, live sports and pricing.
- Streaming budget: if you’re reconsidering services, compare streaming bundles or cancel what you don’t watch.
Frequently asked questions
How many people is Netflix laying off?
About 1,000 employees, or roughly 6% of its global workforce.
Why is Netflix cutting jobs?
Growth has slowed and the company wants to focus spending on high-impact areas, according to the co-CEOs’ memo.
Will my Netflix price go up?
The layoff memo didn’t mention prices. Netflix last raised U.S. prices in March 2026.
When does Netflix report earnings?
On Oct. 20, 2026.
