Layoffs are coming for Netflix, too

Netflix is preparing to lay off 5% of staff, according to Puck News. Reporter Matthew Belloni, citing anonymous sources, said the latest round of layoffs is part of a restructuring, and the company could announce the changes as early as next week. According to The Hollywood Reporter, a reorganization “may be undertaken in the next few months” amid the stock being down 20% year to date. With an estimated 17,000 employees worldwide, that would mean about 850 jobs would be eliminated. A Netflix rep declined to comment, and it’s unclear which departments will be most affected. The reported staff reduction comes ahead of Netflix’s third-quarter 2026 earnings report on October 20. During the second-quarter call in July, Netflix said its earnings were in line with Wall Street projections. However, shares dropped significantly in after-hours trading following the earnings call. The company’s last major reduction took place in 2022 and affected about 300 staffers, primarily in the US.