What's going on at Netflix? Content chief tipped to exit as 1,000 jobs go worldwide

Netflix chief content officer Bela Bajaria is reportedly leaving the company after a decade, as the streamer cuts about 1,000 jobs and faces pressure over slowing engagement.

Both Variety and Puck reported that her departure is expected, and identified former Disney and Fox executive Peter Rice as her replacement, with Puck citing two sources.

Meanwhile, the streaming giant's Australian arm also gave Mediaweek a ‘no comment’ when pressed on whether the job cuts would affect any roles Down Under.

Job cuts across the business

Netflix has begun cutting about 6% of its workforce, or roughly 1,000 positions, in its largest round of redundancies since 2022. 

The cuts coincide with the company’s efforts to increase viewing through video podcasts, live events and programming from YouTube creators.

According to Puck's Matthew Belloni, engagement increased just 2% in the first half of 2026. He cited Nielsen figures showing Netflix accounted for 7.8% of connected TV viewing in July, compared with YouTube’s 14.2%.

Co-chief executive Ted Sarandos recently acknowledged the platform was “not growing as fast as I want us to”.

Belloni reported that Netflix’s share price had fallen more than 40% since last year, when Sarandos and co-chief executive Greg Peters pursued an unsuccessful bid for Warner Bros.

A change at the top of content

Bajaria joined Netflix in 2016 and took its top content role in early 2023, overseeing its global film and television operations.

Her time at the company has included major series like Bridgerton and Squid Game, as well as its expansion into live programming through WWE and NFL games.

Belloni reported that Bajaria was due to inform her team of her departure that afternoon. Netflix declined to comment to Puck at the time of his report.

Rice tipped to replace Bajaria

Rice previously held senior leadership positions at Disney and Fox, including running Fox Searchlight Pictures.

Then-chief executive Bob Chapek dismissed him from Disney’s top television content role in 2022.

His experience includes overseeing television studios and networks and managing the integration of Fox operations and thousands of employees into Disney following its acquisition.

Belloni also reported that Netflix film chief Dan Lin was expected to face departure, although that had not happened at the time of his report. Bajaria’s replacement would decide Lin’s future, according to Belloni.