From Startup Fortune · · 1m 10s
Netflix cuts 800 jobs days before earnings
Netflix prepares to cut 800 jobs days before earnings as YouTube keeps winning.
In brief
Netflix prepares to cut 800 jobs days before earnings as YouTube keeps winning. Netflix plans to lay off 800 employees before its October 20 earnings report after YouTube's viewing share rose to 14.2% from 13.4% in the same period. Originally reported by Startup Fortune.
Netflix layoffs
Netflix plans to lay off 800 employees before its October 20 earnings report.
Timing of cuts
Cuts could be announced days before Netflix reports third-quarter earnings on October 20.
Netflix's viewing share
Netflix's share of U.S. TV viewing fell from 8.8% to 7.8% between July 2025 and July 2026.
YouTube's growth
YouTube climbed from 13.4% to 14.2% of total TV usage over the same twelve months.
Netflix's content strategy
Netflix's share of original-content viewing time slid from 65% in 2022 to 55% in 2026.
Wall Street reaction
HSBC downgraded Netflix from Buy to Hold and cut its price target to $76 from $96.
Market impact
Netflix, Disney, Paramount and Warner Bros. Discovery lost 2.9 percentage points of total viewing share over the past year.
What's next
Netflix's July 16 earnings call will show if any of the changes are working.
The bottom line
Netflix plans to lay off 800 employees before its October 20 earnings report after YouTube's viewing share rose to 14.2% from 13.4% in the same period.
