Netflix lays off 1,000 employees amid slowing growth and stock decline

Netflix is laying off about 1,000 employees, roughly 6% of its staff, in its largest layoff round since 2022. This comes as its shares have lost about 41% of their value over the past year. Despite projecting 2026 revenue of $51 billion to $51.4 billion and maintaining 31.5 cents of operating profit per sales dollar, member viewing hours only increased by 2% in the first half of 2026, while YouTube took 14.2% of US TV viewing in July, compared to Netflix's 7.8% according to Nielsen data cited by TheWrap.