Netflix is eliminating about 6% of its employee roster, or roughly 1,000 jobs, in a round of layoffs announced internally Wednesday, according to a source with knowledge of the matter and a company email seen by NBC News.
“Our mission — to entertain the world — is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources,” Netflix co-chief executives Greg Peters and Ted Sarandos said in the email to staff members Wednesday.
The news was first reported by The Wall Street Journal. The source with knowledge of the matter confirmed the newspaper’s reporting was accurate.
Netflix remains one of the titans of streaming, but it has struggled to boost user engagement on the platform. The service’s users watched more than 97 billion hours of content in the first half of 2026, an increase of 2% year over year, according to the company’s most recent quarterly earnings report.
“Overall, we’re not growing as fast as I want us to, and we’re working on making that move faster,” Sarandos said at Bloomberg’s annual media conference late last month.
Netflix is expected to report its third-quarter financial results Tuesday.
The majority of the job cuts will be concentrated in Netflix’s product, technology, legal and human resources teams.
FOR SUBSCRIBERSMicrosoft’s CEO wants AI agents on your PC. He also thinks they’re a security risk.
FOR SUBSCRIBERSOld stories, new lens: Hollywood is giving lit nerds a reason to revisit the classics
FOR SUBSCRIBERSAmericans’ eating habits are changing. For Chick-fil-A, adapting to them is a tall order.
FOR SUBSCRIBERSIsraeli ad company helped a spyware firm target Al Jazeera through online ads, researchers say
FOR SUBSCRIBERSRepublicans in key races break with Trump over tariffs
FOR SUBSCRIBERSJon Ossoff for president? How Georgia’s 2026 race for governor could affect the answer
FOR SUBSCRIBERSWatchdog seeks investigation into press secretary Katie Zacharia’s legal résumé
FOR SUBSCRIBERSHow safe are roller coasters? What riders should know
FOR SUBSCRIBERSThe economic crunch ahead of the election crunch
FOR SUBSCRIBERSApple’s HomeView is part iPad, part Apple Watch and part CarPlay
FOR SUBSCRIBERSMike Rogers on whether Iran war was a mistake: ‘We’ll find out’
FOR SUBSCRIBERS‘We didn’t think this could happen’: Pennsylvania doctors seeing what measles can do to kids
FOR SUBSCRIBERSUnion leader quoted in Maine Senate attack ad sends ‘cease and desist’ letter to GOP PAC
FOR SUBSCRIBERSRepublicans shift funds in the battle for the House, pulling money from some tough races
FOR SUBSCRIBERSHow do microplastics cause harm inside our bodies? A new study offers an answer
Slide 1 of 1
Peters and Sarandos said the streaming firm will “continue to invest aggressively in high impact areas” while also “making focused choices across the business so we can keep delivering for our members, partners, employees and investors.”
FOR SUBSCRIBERSMicrosoft’s CEO wants AI agents on your PC. He also thinks they’re a security risk.
FOR SUBSCRIBERSOld stories, new lens: Hollywood is giving lit nerds a reason to revisit the classics
FOR SUBSCRIBERSAmericans’ eating habits are changing. For Chick-fil-A, adapting to them is a tall order.
FOR SUBSCRIBERSIsraeli ad company helped a spyware firm target Al Jazeera through online ads, researchers say
FOR SUBSCRIBERSRepublicans in key races break with Trump over tariffs
FOR SUBSCRIBERSJon Ossoff for president? How Georgia’s 2026 race for governor could affect the answer
FOR SUBSCRIBERSWatchdog seeks investigation into press secretary Katie Zacharia’s legal résumé
FOR SUBSCRIBERSHow safe are roller coasters? What riders should know
FOR SUBSCRIBERSThe economic crunch ahead of the election crunch
FOR SUBSCRIBERSApple’s HomeView is part iPad, part Apple Watch and part CarPlay
FOR SUBSCRIBERSMike Rogers on whether Iran war was a mistake: ‘We’ll find out’
FOR SUBSCRIBERS‘We didn’t think this could happen’: Pennsylvania doctors seeing what measles can do to kids
FOR SUBSCRIBERSUnion leader quoted in Maine Senate attack ad sends ‘cease and desist’ letter to GOP PAC
FOR SUBSCRIBERSRepublicans shift funds in the battle for the House, pulling money from some tough races
FOR SUBSCRIBERSHow do microplastics cause harm inside our bodies? A new study offers an answer
Slide 1 of 1
In recent months, Netflix has looked for ways to boost subscriber engagement, including adding live sports programming and video podcasts licensed from third-party companies such as Bill Simmons’ The Ringer.
Netflix’s layoffs come as other major Hollywood studios look to reduce costs and streamline operations.
The Walt Disney Co. has cut hundreds of jobs this year under new CEO Josh D’Amaro, according to a source familiar with the matter. David Ellison’s Skydance is widely expected to shrink its workforce across Paramount and Warner Bros. Discovery.
This post appeared first on https://www.nbcnews.com