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Netflix Layoffs Cut 6% of Employees, Eliminating 1,000 Jobs
Variety • • business
Key Points:
- Netflix is laying off approximately 1,000 employees, about 6% of its workforce, marking its largest layoff to date, primarily impacting product, technology, legal, and HR teams.
- Despite strong financial performance in 2025 with $45.2 billion in revenue and $11 billion in net income, Netflix faces concerns over slowed user engagement in early 2026.
- The company remains confident in its growth trajectory, projecting 2026 revenue between $51.0 billion and $51.4 billion and an operating margin increase to 31.5%.
- Netflix emphasizes continued investment in high-impact areas to drive innovation and growth while making focused organizational changes to prioritize resources effectively.
- The layoffs follow previous reductions in 2022 and early 2026, with Netflix scheduled to report third-quarter 2026 earnings on October 20, amid cautious investor sentiment.
