- Puck News reports Netflix plans to cut about 5% of its workforce, its biggest round of job cuts since 2022.
- Puck puts Netflix global headcount near 17,000, implying about 850 jobs; the annual filing listed about 16,000 full-time employees at end-2025, pointing to closer to 800.
- Revenue rose 13% to $12.6 billion in Q2, while marketing, technology and administrative costs climbed 18% to about $2.3 billion.
- Netflix targets a 31.5% operating margin for FY26, up from 29.5% last year, and expects about 12% revenue growth in Q3.
- The stock has fallen more than 40% over the past year, and Puck links the pressure to the failed Warner Bros bid and engagement growth of 2% in H1 2026.
Quotes
“Overall, we're not growing as fast as I want us to”