Netflix cuts 1,000 jobs and fires top content bosses

Netflix said it will lay off 1,000 employees and push out three of its top movie and TV leaders. It also hired a new chief operating officer, Peter Rice, to turn things around. The news came this week as co-CEOs Ted Sarandos and Greg Peters told investors there is nothing to worry about.

What changed

The job cuts hit Netflix's product, tech and legal teams. The leaders on their way out are Bela Bajaria, who ran TV and content for the past decade, film chairman Dan Lin, and film vice president Doug Belgrad. Sarandos called Rice "one of the most effective at-scale operators in the entertainment industry."

Why Netflix is under pressure

The Verge says the timing looks grim. Netflix has missed ad revenue targets, growth has been sluggish, and its attempt to buy Warner Bros. failed when David Ellison's Paramount won it. That deal would have added shows and movies, more subscribers and a bigger presence in theaters.

Sarandos said Netflix's content around the world is "largely working." But he admitted the US needs "better execution." Business there is "just not growing as fast as it could or as fast as we'd like."

The people who left

Bajaria pushed Netflix into unscripted shows, sports and international series such as Squid Game and Money Heist. Sarandos said the company has no plans to change that approach. Lin joined in 2024 to rein in spending, and Belgrad oversaw original content. The Hollywood Reporter notes Lin's blunt style sometimes caused friction with big-name creators.

The Verge argues the problems run deeper than three executives. It points to shows canceled before they find an audience, new projects that get little promotion, and side bets on podcasts and games that look like a scramble for attention from YouTube and TikTok.

What it means for subscribers

Beyond its ad-supported plans, Netflix has mostly grown revenue by raising prices. The Verge says that has soured some viewers when the lineup has not felt worth the cost. Other big streamers do the same.

• Netflix has not announced any price change tied to this shake-up.
• Netflix has not said which shows or plans could change.
• Its international strategy is staying, according to Sarandos.

What is not known yet

It is unclear who will take over the content leaders' jobs or how Rice's plans will differ from the past. Whether the cuts will improve the shows or the price you pay is also an open question.