{
  "id": 14458599,
  "title": "Netflix is cutting about 1,000 staffers in its biggest round of layoffs in years",
  "url": "https://urgent.news/2026/10/14/netflix-is-cutting-about-1-000-staffers-in-its-biggest-round-of",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-14T13:26:28.000Z",
  "source": {
    "name": "Business Insider",
    "slug": "business-insider",
    "url": "https://www.businessinsider.com/netflix-layoffs-biggest-round-of-cuts-in-years-2026-10"
  },
  "original_language": "en",
  "account": "Netflix is reducing its workforce by approximately 1,000 workers, marking its largest round of layoffs since 2022, according to a person familiar with the decision. Co-CEOs Ted Sarandos and Greg Peters informed staff about the cuts on Wednesday. The company is facing challenges such as slowing engagement growth and a declining stock price, which has fallen over 30% in the past six months and over 40% in the past year. The layoffs primarily affect employees in the product, technology, HR, and legal departments. This move follows in the footsteps of other major media companies, including NBCUniversal and Disney, that have also recently implemented workforce reductions. Netflix's decision to cut staff comes just before the company is scheduled to report its third-quarter earnings on October 20. Sarandos stated in September that the company was not growing as quickly as desired and is working to expedite progress. Last quarter, Netflix met Wall Street's earnings expectations, but the company announced it would begin publishing detailed engagement reports annually rather than bi-annually. The shift to annual reporting raised concerns among investors, as engagement is a key indicator of subscriber loyalty and willingness to pay higher prices. Netflix's stock price has dropped significantly this year, and its engagement growth has slowed. The company generated 7.8% of TV viewership in the US during July, according to Nielsen data, which is lower than YouTube's 14.2% share but higher than Disney's streaming platforms at 4.7%. However, Netflix's overall viewership has increased by 2% in the first half of the year, with 97 billion viewing hours. Despite this, Netflix's share of streaming viewership has decreased from 9% in December to its current level, likely due to the popularity of shows like \"Stranger Things.\"",
  "summary": "Netflix is cutting about 1,000 employees in the face of slowing engagement growth and a stagnant stock price.",
  "key_points": [
    "Netflix reduces workforce by 1,000 employees, largest layoffs since 2022",
    "Cuts announced by co-CEOs Ted Sarandos and Greg Peters on Wednesday",
    "Layoffs impact product, tech, HR, legal departments ahead of Q3 earnings report"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Quartz",
        "title": "Netflix is cutting about 6% of its workforce in biggest layoffs since 2022",
        "url": "https://urgent.news/2026/10/14/netflix-is-cutting-about-6-of-its-workforce-in-biggest-layoffs-since",
        "published": "2026-10-14T13:30:24.000Z"
      },
      {
        "outlet": "The Economic Times",
        "title": "Netflix's biggest layoffs to date: Read letter",
        "url": "https://urgent.news/2026/10/14/netflixs-biggest-layoffs-to-date-read-letter",
        "published": "2026-10-14T14:05:22.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}