Story perspectives

Netflix Cuts 1,000 Jobs, Says Forecast Still On Track

By Drooid · Oct 14, 2026, 11:07 PM UTC · How we work

Summary

Story summary

Netflix is cutting about 1,000 jobs, roughly 6% of its workforce.
Co-CEOs Ted Sarandos and Greg Peters announced the cuts in an internal memo on Wednesday.
The layoffs target product, technology, legal and human-resources teams worldwide.
Netflix says it remains on track to meet its full-year financial forecast.
The company will report third-quarter earnings after market close on Oct. 20, 2026.

History

Historical Context

The 2008 financial crisis, triggered by the U.S. housing bubble collapse, pushed unemployment above 200 million worldwide, with the ILO predicting at least 20 million job losses by end-2009. U.S. unemployment rose from 4.9% in Dec 2007 to a 10% peak in Oct 2009. Those shocks have repeatedly forced media giants Disney and Netflix to cut staff and trim budgets.

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Story summary

Netflix is cutting about 1,000 jobs, roughly 6% of its workforce.
Co-CEOs Ted Sarandos and Greg Peters announced the cuts in an internal memo on Wednesday.
The layoffs target product, technology, legal and human-resources teams worldwide.
Netflix says it remains on track to meet its full-year financial forecast.
The company will report third-quarter earnings after market close on Oct. 20, 2026.

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