Netflix replaces content chief Bela Bajaria after cutting about 1,000 jobs

Netflix has appointed former Disney executive Peter Rice to oversee its global programming operation, one day after announcing workforce reductions affecting roughly 6% of its employees. The company has not given a reason for Bela Bajaria’s departure.

Photo Credit: Jessica Chou/Netflix

Netflix will replace Chief Content Officer Bela Bajaria with Peter Rice on October 26, the company announced on Thursday, October 15.

Bela Bajaria is leaving after nearly a decade at the streaming company, where she helped shape its international programming strategy and expansion into live events and sports.

The appointment followed Netflix’s announcement on October 14 that it would cut about 1,000 jobs worldwide.

Netflix has not publicly linked the two developments.

Rice, who previously served as chairman of Walt Disney Television and held senior positions at 21st Century Fox, will oversee Netflix’s scripted and unscripted series, films and live events across its international operations.

“I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” Netflix co-chief executive Ted Sarandos said in the company’s announcement.

Photo Credit: Disney

He credited Bajaria with expanding unscripted programming and introducing live events and sports, alongside Netflix’s global slate of films and series.

Bajaria joined Netflix in 2016 and became chief content officer in January 2023. Her tenure included the international success of series such as Squid Game and Bridgerton, as well as a wider push into live programming, including NFL games and WWE events.

Her departure comes as Netflix faces pressure to sustain audience growth and persuade viewers to spend more time on its service.

Netflix remains the leading subscription-streaming platform by subscriber count, with more than 325 million subscribers, but competition from free services such as YouTube and TikTok has made audience engagement a greater concern for investors.

Nielsen data shows YouTube accounting for 14.2% of US television streaming time in July, compared with Netflix’s 7.8%.

The workforce reductions announced Wednesday will fall mainly on Netflix’s product, technology, legal and human-resources teams, according to an internal memo reviewed by Reuters. The latest cuts represent the company’s largest round of layoffs since 2022, when it eliminated about 450 positions following a large decline in subscribers.

In the memo, Sarandos and co-chief executive Greg Peters said the company remained on track to meet its full-year forecast. “Our business is strong and growing,” they wrote, while arguing that Netflix needed to be disciplined about how it allocated staff and resources.

The two announcements place a leadership change in Netflix’s content operation alongside a substantial reduction in staffing, but the company has not disclosed whether the decisions are related. It also has not publicly detailed Bajaria’s plans after leaving.

Rice takes charge on October 26, inheriting responsibility for the programming decisions that will shape Netflix’s next phase of growth

News source: about.netflix.com/en/news/peter-rice-named-netflix-chief-content-officer