In situ nanoindentation of a 30 nm Cu/20 nm Nb multilayer film in a transmission electron microscope revealed confined layer slip as the dominant deformation mechanism. Dislocations were observed to nucleate from the Cu-Nb interfaces in both layers. Dislocation glide was confined by interfaces to occur within each layer, without transmission across interfaces. Cu and Nb layers co-deformed to large plastic strains without cracking. These microscopy observations provide insights in the unit mechanisms of deformation, work hardening, and recovery in nanoscale metallic multilayers.