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Netflix plans to lay off 5% of workforce: report

Published : Saturday, 10 October, 2026 at 4:18 PM

Observer Online Report

Collected Photo

Netflix is planning to lay off around 5% of its workforce, potentially affecting about 800 employees, as the streaming giant prepares for a major restructuring, according to a media report.

The layoffs could be announced as early as next week. However, it remains unclear which departments would be most affected by the planned job cuts.

Netflix had around 16,000 full-time employees at the end of 2025, meaning the reported reduction could eliminate approximately 800 jobs. About 68% of its workforce, or nearly 10,900 employees, were based in the United States and Canada as of December.

The company last carried out major layoffs in 2022, cutting around 450 jobs after reporting a net loss of 200,000 subscribers in the first quarter of that year. It has also made smaller cuts since then, including laying off several dozen employees from its global product team earlier in 2026.

Netflix co-CEO Ted Sarandos said last month that the company continued to grow, with double-digit revenue gains across all geographical regions in the second quarter. However, he acknowledged that the company wanted to accelerate its growth.

Sarandos also pointed to challenges in increasing user engagement, which rose 2% year-on-year in the first half of 2026. He said live programming accounted for around 5% of the company's content budget but generated only about 1% of total viewing.

Netflix reported second-quarter earnings in line with Wall Street expectations but issued third-quarter revenue guidance below analysts' forecasts, putting pressure on its stock price.

A Netflix spokesperson declined to comment on the reported layoffs. The company is scheduled to announce its third-quarter 2026 earnings on Tuesday, after the market closes.

- MaT

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Editor : Iqbal Sobhan Chowdhury

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