Key points
- Netflix’s chief content officer Bela Bajaria is out after nearly 10 years at the company.
- Former Disney and Fox executive Peter Rice replaces her, effective October 26.
- The change came one day after Netflix announced about 1,000 layoffs, 6% of its staff.
- Netflix told staff she “is leaving the company”; Page Six, citing unnamed sources, reported she was blindsided.
- Investors will hear more on the Q3 earnings call on October 20.
One day after cutting about 1,000 jobs, Netflix replaced the executive in charge of everything it streams. Chief content officer Bela Bajaria is leaving after nearly a decade, and Peter Rice, who ran television at Disney, takes over on October 26, according to a Netflix email to staff reported by Screen.
Netflix in 2026: from Warner Bros. to a new content chief
- Feb 27 Netflix walks away from Warner Bros.
Netflix had agreed to buy Warner Bros. Discovery’s studio and streaming business. When Paramount Skydance offered $31 a share for the whole company, Netflix declined to match. Its co-CEOs said the deal was “always a ‘nice to have’ at the right price, not a ‘must have’ at any price.”
- Oct 14 About 1,000 jobs cut
In an email to staff, co-CEOs Greg Peters and Ted Sarandos announced about 1,000 job cuts, roughly 6% of the workforce, mostly in product, technology, legal and HR.
- Oct 15 Bajaria out, Peter Rice named
Netflix told staff that Bela Bajaria “is leaving the company” and named former Disney and Fox executive Peter Rice chief content officer.
- Oct 20 Q3 earnings call
Peters and Sarandos are scheduled to discuss strategy on the third-quarter earnings call on Tuesday, October 20.
- Oct 26 Rice starts
Rice’s appointment is effective October 26. He will oversee the global content operation.
What happened to Bela Bajaria?
Netflix told employees that Bajaria “is leaving the company”. Co-CEO Ted Sarandos said she “led enormous changes at Netflix”. During her tenure Netflix released some of its biggest hits, including Squid Game and KPop Demon Hunters, its most-viewed film, according to Screen.
The exit was not presented as voluntary by everyone. Page Six, citing unnamed sources, reported that she was blindsided by the decision. Netflix has not commented on that report.
Who is Peter Rice?
Rice was chairman of Walt Disney Television, overseeing ABC, FX and Hulu, and earlier president of 21st Century Fox and head of Fox Searchlight, which won the best picture Oscar for Slumdog Millionaire. Sarandos called him “one of the most effective at-scale operators in the entertainment industry.” Rice knows this kind of exit from the other side: Disney removed him as its content chief in June 2022, replacing him with Dana Walden, according to Axios.
How the layoffs fit in
On October 14, co-CEOs Greg Peters and Ted Sarandos announced about 1,000 job cuts, roughly 6% of the workforce, mostly in product, technology, legal and HR (CEO memo via Reuters). It was the company’s biggest cut since 2022. Read our full coverage: Netflix layoffs 2026, and see how it compares with other companies in the Tech Layoff Tracker.
The background: Warner Bros. and a tougher year
In February, Netflix walked away from its deal to buy Warner Bros. Discovery’s studio and streaming business after Paramount Skydance offered $31 a share for the whole company. The co-CEOs said the deal was “always a ‘nice to have’ at the right price, not a ‘must have’ at any price” (Al Jazeera). Since then, Netflix has had to show growth without that catalog. Peters and Sarandos are expected to explain the strategy on the October 20 earnings call.
What it means for Netflix employees
Leadership changes often bring team changes. If you were affected by the layoffs, check your severance terms before signing, ask about your equity and benefits, and read how to negotiate severance and how long health insurance lasts after a layoff. Follow new cuts as they happen on Layoffs today.
FAQ
Why was Bela Bajaria fired from Netflix?
Netflix has not given a reason. Its staff email said she “is leaving the company”. The change came a day after about 1,000 layoffs and months after Netflix walked away from Warner Bros. Discovery.
Who replaced Bela Bajaria at Netflix?
Peter Rice, former chairman of Walt Disney Television and former president of 21st Century Fox, becomes Netflix’s chief content officer on October 26, 2026.
How many people did Netflix lay off in October 2026?
About 1,000 employees, roughly 6% of its workforce, mostly in product, technology, legal and HR, according to an email from the co-CEOs.
Are more Netflix layoffs coming?
Netflix has not announced more cuts. Rice starts on October 26, and the October 20 earnings call is the next chance to hear about the company’s plans.
Sources: Netflix staff email via Screen; CEO memo via Reuters; Al Jazeera; Axios; Page Six (unnamed sources). Updated October 16, 2026. See something wrong? Tell us.