Netflix plans workforce reductions of 800 staff following stock price decline

Netflix is planning a substantial round of layoffs that could affect approximately 5% of its total workforce, according to the Los Angeles Times. The estimated 800 job losses come as the streaming service faces growing market competition and pressure to retain subscribers. [1]

The Los Angeles Times reported that the workforce cuts will directly target the company's creative operations, including staff members working on feature film productions. The decision follows investor concerns over user engagement levels, which have contributed to a 43% decline in the company's stock price compared to the previous year. [1]

The company previously expanded its global reach to more than 190 countries after launching its streaming platform in 2007. It grew its paid subscriber base to over 325 million memberships worldwide by the end of 2025, up from 301.6 million reported at the end of 2024. [2]