Story perspectives

Netflix to cut 800–850 jobs, about 5% workforce

By Drooid · Oct 9, 2026, 10:16 PM UTC · How we work

Summary

Netflix Cuts Jobs

Netflix will cut roughly 800-850 jobs, about 5% of its workforce.
The cuts could be announced as early as next week, according to Puck News on Oct 9 2026.
Netflix’s stock dropped about 42% over the past year while engagement slowed.
Q3 2026 revenue guidance fell short of Wall Street forecasts, pushing shares down.
Advertising revenue is projected to double to $3 billion this year as Netflix adds ads, live events, and gaming.

Summary

Netflix Expands Offerings

Netflix is adding podcasts, live events, sports, vertical video, and gaming to its catalog.
Netflix hired former YouTube talent and signed a content partnership with French broadcaster TF1.
Netflix is testing bundles with Peacock and plans live channel additions, signaling broader service integration.
In July, Netflix captured 7.8% of TV viewership while YouTube held 14.2%, per Nielsen Gauge.

History

Historical Context

In September 2011 Netflix, led by CEO Reed Hastings, split DVD and streaming, raised prices and lost roughly 800,000 U.S. subscribers, driving the stock from $42 to under $9. The fallout prompted original productions in 2013 and rapid expansion to over 190 countries. Today its layoffs and move into ads, podcasts and gaming echo that earlier pivot.

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Netflix Cuts Jobs

Netflix will cut roughly 800-850 jobs, about 5% of its workforce.
The cuts could be announced as early as next week, according to Puck News on Oct 9 2026.
Netflix’s stock dropped about 42% over the past year while engagement slowed.
Q3 2026 revenue guidance fell short of Wall Street forecasts, pushing shares down.
Advertising revenue is projected to double to $3 billion this year as Netflix adds ads, live events, and gaming.

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