Netflix is planning what could be its largest round of layoffs in four years, according to media reports.
The job cuts are expected to impact 5% of the streaming giant’s workforce, with the announcement reportedly coming as soon as this week. Netflix reported 16,000 employees at the end of last year, meaning some 800 people could be laid off.
The rumored layoffs were first reported by Puck news and later confirmed by the Los Angeles Times and other outlets.
Fast Company has reached out to Netflix for comment. We’ll update this post if we learn more.
Mass layoffs have been relatively rare at Netflix, though they have been a common story in the tech industry more broadly this year.
A recent analysis from outplacement firm Challenger, Gray & Christmas found that technology companies announced 165,925 job cuts from January through September 2026, a 54% increase over the same period in 2025.
Netflix last had a large round of layoffs in 2022, when it laid off 3% of its staff.
A growth story no more
Shares of Netflix Inc (Nasdaq: NFLX) have underperformed this year as the company’s revenue growth forecast for 2026 has narrowed.
The stock price was down 22.74% year to date as of Friday’s close, a contrast to the broader Nasdaq Composite, which is up 17.78% over that same period.
During the last decade, the TV streaming pioneer was the fastest growing stock in the S&P 500, with a head-spinning return of 3,726%, CNBC reported at the time.
Subscriber growth had been a big part of Netflix’s story since its 2010s heyday, but the company famously stopped reporting that metric in 2025. More recently, it announced that it would pull back on its “What We Watched” viewership reports, producing them once a year instead of biannually.
Netflix is set to next report earnings on October 20.