Netflix layoffs may be only days away, and the number floating around is big. Puck News reports the streamer plans to cut about 5% of its workforce, and Netflix isn’t saying a word.
Here is what we know, what we don’t, and why the timing is so awkward. It comes as the company is chasing a historic $72 billion Warner Bros. deal.
What the Netflix Layoffs Report Says
Puck News, citing anonymous sources, says a restructuring “will impact” about 5% of staffers. It adds that the plan “could be announced as early as next week,” according to Variety’s summary of the report. That points to the week of Oct. 12.
Netflix has not confirmed any of it. A spokesperson declined to comment, as Reuters also reported.
That’s the caveat to keep in mind. The 5% figure and the timing come from one outlet’s anonymous sources. Everyone else is repeating Puck.
Other Reports Back Up the Netflix Job Cuts
There is one independent signal, though. Deadline reports that word of imminent cuts started circulating Thursday afternoon. Its sources called the reduction “a big one.”
Deadline also says some cuts could start as early as Friday. So the Netflix layoffs themselves look likely. The exact size and date still rest on Puck alone.
How Many Jobs Are on the Line
Netflix said it had about 16,000 full-time employees at the end of 2025. A 5% cut would be roughly 800 jobs. Puck reportedly uses a higher base of about 17,000, which would mean closer to 850, per T-Break.
About 68% of employees were in the U.S. and Canada as of December. If the Netflix workforce reduction spreads evenly, most affected jobs would likely be North American. That is an inference, not something reported.
It is also unclear which departments would take the biggest hit. Nobody has said whether the cuts are global or limited to the U.S.
Why Netflix Restructuring Now?
Netflix isn’t broke. In the second quarter, it posted revenue of $12.56 billion, up 13% from a year earlier, plus $3.4 billion in net income, Quartz reports.
But the stock tells a different story. Earnings matched forecasts, yet Q3 revenue guidance came in below analyst expectations, and shares fell. TipRanks says NFLX is down about 41% over the past year.
Competition is also tougher. Rivals are merging, and YouTube is grabbing more viewing time and ad dollars. It is even reportedly offering creators millions to stay away from Netflix. Netflix is pushing into advertising, live programming and gaming to keep growing.
Here’s the thing: a company can post a 33% operating margin and still cut staff. Wall Street rewards growth, and growth is what Netflix has to prove right now.
Not the First Netflix Staff Cuts
This would not be the first time. Netflix cut several dozen people from its global product team earlier this year. Its last big round came in 2022, after its first subscriber loss in over a decade. Those Netflix layoffs came in stages, with 150 jobs in May and several hundred more in June.
Some outlets call the new round the largest since then. We could not verify that, so treat it as unconfirmed. Meanwhile, the company also has a hit problem as fans walk away after season one.
What Comes Next
Watch the week of Oct. 12 for a memo or a public confirmation of the Netflix layoffs. Then comes the big date. Netflix reports third-quarter earnings on Tuesday, Oct. 20, after the market closes.
Co-CEOs Greg Peters and Ted Sarandos are set to discuss the results afterward. That is the first obvious moment for them to address the cuts on the record.
Until then, the layoffs are a report, not a fact. The awkward part is that the people who would know best are staring at their inboxes.
