Netflix plans substantial layoffs, sources say

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Set us as preferred Netflix plans a substantial round of layoffs as the streaming giant faces rising competition and pressure to retain its subscribers, according to people familiar with the job cuts.The cuts are expected to impact 5% of the company‘s workforce, which could be 800 workers, according to one of the sources who were not authorized to comment.The job losses will affect the creative team including those working on features, the source said.

Netflix declined to comment.The planned cuts are believed to be the biggest at the Los Gatos company since 2022.

The news was first reported by news outlet Puck.Hollywood Inc.

Netflix scripted chief Jinny Howe must replace ending franchises like “Stranger Things” and “Outer Banks.” Inside her bets on “The Roman,” “The Body” and first-time showrunners.Netflix has been under scrutiny from investors over how much time its subscribers spend on the streaming service.View hours rose only about 2% in the first half of 2026 compared with a year earlier, even as content spending climbed.

“Overall we’re not growing as fast as I want us to, and we’re working on making that move faster,” said Netflix co-Chief Executive Ted Sarandos at the Bloomberg Screentime event last week.Netflix has noted how engagement can be measured in different ways.For example, its investment in live programming helps spur significant subscription sign-ups, even though it represents a small percentage of watch time on the streaming service, the company has said.

Hollywood Inc.Some investors are concerned about Netflix’s future growth, causing the company’s stock price to tumble 21% year to date.But some investors remain skeptical about the company’s future growth.

Rival YouTube remains the leader in streaming viewing hours in the U.S.on TVs, representing 14.2% versus Netfl...