Netflix Gearing Up to Lay Off 5% of Workforce: Report

Netflix is planning a major round of layoffs coming as soon as next week that would cut about 5% of its headcount, according to a new report.

The streaming giant plans a significant restructuring that “will impact” about 5% of staffers and “could be announced as early as next week,” according to a report by Puck News, citing anonymous sources.

A Netflix spokesperson declined to comment. It’s not clear which departments would be most heavily affected by the reported cuts.

As of the end of 2025, Netflix said it had about 16,000 full-time employees, which means a 5% reduction in force would eliminate around 800 jobs. Roughly 68% of its workers, about 10,900, were located in the U.S. and Canada as of December.

The last major Netflix layoffs came in 2022, when it axed about 450 staffers following the streamer’s net decline of 200,000 subscribers in the first quarter of that year, its first such drop in more than a decade. The company has made additional smaller cutbacks since then, including letting go several dozen members of its global product team earlier in 2026.

Netflix is scheduled to report third quarter 2026 earnings on Tuesday, Oct. 20, after market close.