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Monday, October 19, 2026

Netflix Replaces Chief Content Officer, Lays Off About 1,000 Employees

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Netflix has replaced its Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. The service has also laid off about 1,000 employees, or 6% of its company. Among those laid off include unscripted casting and development team executives.

Netflix's co-founder and former chairman of the board Reed Hastings left the company in June. Hastings and Marc Randolph co-founded Netflix in 1997, and the company first offered DVD rentals via mail to customers, before transitioning to streaming. Hastings stepped down from his position as co-CEO in January 2023, and began serving as Netflix's executive chairman. Netflix then appointed Greg Peters as co-CEO to serve alongside Ted Sarandos.

Netflix formed a new strategic partnership with anime studio MAPPA in April. The new partnership makes Netflix the exclusive streamer for a number of future original anime titles from MAPPA, and allows the two companies to work together on these new projects in a more comprehensive way "from story development to merchandise." New titles from MAPPA will stream exclusively and simultaneously on Netflix worldwide.

Netflix announced business alliances with numerous Japanese anime studios, including MAPPA as well as NAZ and Science SARU, in October 2022. Netflix previously announced partnerships with Production I.G, I.G sister company Wit Studio, and BONES in 2018. In 2019, Netflix announced similar partnerships with Anima, Sublimation, and david production.

Netflix bowed out in February of its previous deal to acquire Warner Bros. Discovery, after Warner Bros. Discovery determined that Paramount's hostile takeover bid was a better deal.

Sources: Deadline (Peter White), Variety (Rebecca Rubin)

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