Netflix is laying off about 1,000 employees, roughly 6% of its staff and its biggest cut since 2022, according to The Wall Street Journal as relayed by Engadget. CNBC and Variety both say the co-CEOs announced it in a memo to staff.
The layoffs memo did not announce subscriber-facing changes.
Prices as of 12:51 p.m. ET on Oct. 14, 2026, from Netflix's US pricing page: Standard with ads $8.99 a month, Standard $19.99 and Premium $26.99.
What Netflix said
Co-CEOs Ted Sarandos and Greg Peters told staff the business is "strong and growing" and on track for its full-year forecast, as Variety quotes the memo. They added that Netflix will keep investing in high-impact areas.
Variety says most cuts hit product, technology, legal and HR teams, and The Verge says the same. CNBC and Variety both say Netflix had no comment beyond the memo.
Our read
Our read: nothing in the memo changes your bill today. Netflix reports earnings on Oct. 20, according to Variety, which is where we would look next for any price news. On the prices above, Netflix's ad tier is $2.00 cheaper than HBO Max's.
How the prices compare
Prices as of 1:13 p.m. ET on Oct. 14, 2026, from HBO Max's US site: Basic With Ads $10.99 a month, Standard $18.49 and Premium $22.99. Against Netflix's $8.99 ads tier and $19.99 Standard, HBO Max's ad tier costs $2.00 more and its Standard $1.50 less.
The context
Variety says Netflix has more than 325 million customers worldwide. It reports 2025 revenue of $45.2 billion and net income of $11 billion.
Variety puts Netflix at about 16,000 full-time employees at the end of 2025, and says the 2022 cuts were about 450 people. The Verge counts those as 150 in May and 300 in June 2022.
The Verge says a report last week had pointed to 5%; the memo says 6%. Engadget notes Netflix lost its Warner Bros. bid to Paramount Skydance earlier this year.
