Netflix cuts 1,000 jobs and swaps content chief in major shake-up
Netflix has cut 1,000 jobs and cleared out the executives who ran its films and series. Co-CEO Ted Sarandos addressed the reset on the company's third-quarter 2026 earnings call on 20 October, according to Variety.
The central change is at the top of content. Chief content officer Bela Bajaria, the executive who oversaw what Netflix commissions and buys, is out. Veteran television executive Peter Rice will replace her.
Netflix confirmed both moves on 15 October, according to CNBC. Bajaria had served as chief content officer since 2023, according to The New York Times, closing a decade-long run at the company. The names changed fast.
Rice is a former Disney and 21st Century Fox television executive. Sarandos has known him for about 15 years. Sarandos himself led Netflix's content operations for more than 20 years before moving into the co-chief executive role.
The departures went wider than Bajaria. Head of film Dan Lin is out, along with his top lieutenant Doug Belgrad and director of original series Carolina Garcia. The exits landed during a week of major layoffs and stock pressure for the streamer.
In its formal announcement, titled 'Peter Rice Named Netflix Chief Content Officer', Netflix said Sarandos thanked Bajaria for "a decade of dedication, innovation, creativity and leadership", according to the Netflix newsroom.
For viewers, this matters because these are the people who choose series and films, set budgets and decide release dates. A new chief content officer brings new deputies, new tastes and new priorities. The slate on screen will take time to reflect that.
