Netflix to cut roughly 6% of its workforce amid slowing revenue growth
CBS News obtained an Oct. 14, 2026 memo from Netflix co‑CEOs saying the company will eliminate about 6% of roles — roughly 1,000 positions globally — hitting product, technology, legal and HR. The memo said Netflix remains "strong and growing" and on track for its full‑year forecast (CBS News).
CBS News obtained an Oct. 14, 2026 memo from Netflix co‑CEOs Ted Sarandos and Greg Peters saying the company will cut roughly 6% of its workforce — about 1,000 jobs worldwide — with reductions concentrated in product, technology, legal and human resources. CBS said the Wall Street Journal first reported the news.
CBS noted Netflix had about 16,000 full‑time employees as of December 2025 (per a securities filing). The memo said the business is "strong and growing" and on track to meet its full‑year forecast and that the company will "invest aggressively" in high‑impact areas; Netflix declined further comment. CBS also reported shares traded just below $70 and were down nearly 43% over the prior 12 months.
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Linked source published October 14, 2026 at 10:49 AM EDT. A sourced news brief; no independent staff reporting is implied. Prepared with AI assistance from the linked research; material claims remain attributed in the article.
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