Netflix cuts 1,000 jobs as leadership exits and growth pressures mount

Netflix announced on October 14 that it would cut about 1,000 jobs worldwide, roughly 6 percent of its workforce. It is the company's largest round of layoffs since 2022, according to BBC News.

Co-CEOs Greg Peters and Ted Sarandos told employees that product, tech, legal and human resources would be the most affected teams, The Hill reported. The announcement was larger than the 5 percent reduction reported the previous week, according to The Verge.

The cuts came against slowing growth and pressure on viewing engagement. The New York Times reported that Netflix's share price had fallen more than 40 percent over the preceding year as engagement stalled.

On October 14, reports began identifying executives affected beyond the departments singled out in the company's memo. The Hollywood Reporter reported that Netflix Film VP Doug Belgrad was leaving in the layoffs.

The television division also lost senior staff. Variety reported on October 14 that Director of Original Series Carolina Garcia was leaving after 10 years. Deadline Hollywood identified Lisa Lang McMullen, James Oh and Andrew McQuinn among the other Director-level executives departing.

On October 15, Deadline Hollywood reported that the cuts had also reached executives in unscripted casting and development, broadening the picture of the restructuring's impact on programming teams.

The financial context was not a company losing money. On October 16, Variety reported that Netflix had earned $11 billion in net profit in 2025, with revenue rising 16 percent to $46.6 billion. Its projected revenue growth for 2026 was slower, at 13 to 14 percent.

On October 19, Variety reported that Dan Lin had been dismissed as Netflix's head of film. The Hollywood Reporter said his exit followed the ousting of chief content officer Bela Bajaria, adding leadership upheaval to the workforce reductions.

The restructuring now extends from corporate and technical teams to film and television leadership. The reported total remains about 1,000 positions, rather than a separate tally for each newly identified executive departure.

On October 20, World News CNA reported that Netflix had issued a weak fourth-quarter forecast as it sought to kick-start growth. That adds a fresh concern to the engagement questions investors were already examining ahead of the company's third-quarter results, according to The Next Web.

The central question is whether the smaller workforce and changed leadership can deliver stronger viewing engagement and growth. The latest coverage does not establish when the job reductions will be completed or how responsibilities will be redistributed.

Netflix's advertising business and engagement metrics are concrete areas to follow. CNBC International identified both as priorities for investors heading into the October 20 earnings report, alongside the company's position on potential mergers and acquisitions.