Largest layoff in past four years; Netflix preparing new move after viewership nosedives

CALIFORNIA: Netflix is ​​preparing to lay off five percent of its workforce. Puck News broke the news, citing unofficial reports that a decline in viewership and a drop in the stock market throughout the year are behind Netflix adopting this move.

An official announcement regarding the matter is expected next week. This marks the largest layoff by Netflix in the past four years. Reports indicate that approximately 850 employees could be laid off before October 29. The company currently has a workforce of around 17,000 employees.

It is unclear which categories of employees will be affected the most. The company's share value dropped by 40 percent over the past year. Reports indicate that the crisis was triggered by a mere two percent increase in user engagement during the first half of 2026. Layoffs occurred this year not only at Netflix but also at Disney; Disney laid off employees three times during the year.