One day after reports pointed to about 800 potential job cuts, Netflix confirmed it is eliminating roughly 1,000 positions as it tries to produce more growth with a smaller workforce.

Netflix is cutting roughly 1,000 jobs, or 6% of its global workforce, in its largest round of layoffs since 2022. Co-CEOs Greg Peters and Ted Sarandos told employees Wednesday that most of the reductions will fall across product, technology, legal and human resources. Netflix employed about 16,000 full-time workers at the end of 2025. The company says it remains on track to meet its full-year financial forecast even as it reduces headcount.

The announcement is the confirmation of a story SSC was already watching. On Tuesday, we reported that Netflix was preparing to cut about 5% of its workforce, potentially affecting roughly 800 employees. The final number is larger. What has not changed is the underlying tension: Netflix remains profitable and continues to grow revenue, but growth in viewing time has slowed and the company is facing intensifying competition for attention from YouTube and other platforms.

That makes these layoffs less a story about a company in financial trouble than about what corporations now consider sufficient performance. Netflix reported only about 2% growth in viewing hours during the first half of 2026, while its stock has fallen sharply over the past year. At the same time, the company has been expanding into live programming, sports, advertising, video podcasts and creator-driven content in an effort to generate more engagement.

The quick read: Yesterday, Netflix appeared ready to eliminate about 800 jobs. Today, the number became roughly 1,000. The company is still growing, but management is making clear that growth alone is not enough. Netflix is cutting the organization while simultaneously asking the remaining business to produce more engagement, more formats and faster returns.