Netflix cuts about 1,000 jobs and replaces content chief in major shake-up

Netflix is cutting about 6% of its workforce, roughly 1,000 jobs, in its largest round of layoffs, while content chief Bela Bajaria has left and been replaced by former Disney and Fox executive Peter Rice.

Netflix is cutting roughly 1,000 jobs, about 6% of its global workforce, in the largest round of layoffs in the company's history. Co-CEOs Greg Peters and Ted Sarandos described the cuts as "organizational changes," with product, technology, legal and human resources teams most affected.

California filings show 494 of the cuts, including 227 positions at the company's Los Gatos headquarters and 267 in Los Angeles.

The Netflix headquarters campus in Los Gatos

Chief content officer Bela Bajaria has left the company and been replaced by Peter Rice, a former Disney and 21st Century Fox executive, while film chief Dan Lin was also let go. Staff reportedly learned of Bajaria's exit from the press before any internal announcement.

Asked about the leadership change on the company's third-quarter earnings call, Sarandos praised Bajaria's tenure and said, "I know that we could do better, and we want to build on that momentum." Peters indicated that further job cuts are not planned for the foreseeable future.