Netflix may cut about 5% of staff, Puck reports

Puck News, citing sources, reported that Netflix may cut about 5% of its workforce. The outlet said the company could announce a restructuring as early as next week. Netflix declined to comment.

If Puck News’s estimate of about 17,000 employees is correct, the proposed reduction would affect roughly 850 people. That figure is an estimate based on the outlet’s headcount, not a confirmed company plan.

Netflix’s previous major round of layoffs took place in 2022. Puck puts that reduction at about 150 jobs and links it to a period of slower business growth.

The report says Netflix is expanding beyond subscriptions by investing in advertising, live programming and games. Puck connects the possible restructuring with pressure on the company after its unsuccessful bid for Warner Bros. and slower growth in user engagement.

The planned layoffs remain a media report based on unnamed sources. Netflix has not confirmed them or said which teams or employees could be affected.