Netflix replaces Bela Bajaria as its chief content officer, appointing former Disney and Fox executive Peter Rice to oversee global programming as the streaming company eliminates approximately 1,000 jobs in its largest round of layoffs since 2022.
Netflix announced the leadership change on Thursday, October 15, a day after informing employees that it would reduce its workforce by roughly 6%. Rice will assume his new position on October 26, taking responsibility for the company’s international film, television and live entertainment operations.
Bajaria leaves after nearly a decade at Netflix, where she helped expand the company’s international programming and oversaw major entertainment franchises, including Squid Game, Bridgerton and Wednesday.
Her departure comes as Netflix confronts slowing growth in viewer engagement, mounting competition from digital platforms and investor concerns about its ability to maintain momentum in the global streaming market.
The company has not publicly explained why it decided to replace Bajaria. However, the announcement marks a significant leadership change as Netflix reassesses its programming priorities and operating costs.
Netflix Replaces Bela Bajaria After Nearly a Decade
Bajaria joined Netflix in 2016 after serving as president of Universal Television. She initially managed unscripted programming and licensing before moving into senior roles overseeing television production.
In January 2023, Netflix appointed her chief content officer, placing her in charge of the company’s global entertainment portfolio.
During her tenure, Netflix expanded its international productions and strengthened its position as a leading distributor of films and television programmes across different languages and markets.
The success of South Korean drama Squid Game demonstrated the international appeal of productions developed outside Hollywood. Other major releases, including Wednesday, Bridgerton and K-pop Demon Hunters, reinforced Netflix’s reputation for attracting audiences across geographical and cultural boundaries.
Bajaria also helped expand the company’s unscripted programming and supported its entry into live entertainment and sports.
Netflix co-chief executive Ted Sarandos acknowledged her contribution in a statement announcing her departure.
“I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” Sarandos said.
He credited Bajaria with broadening Netflix’s entertainment offerings and developing a global slate of original films and series.
Despite that public recognition, her exit follows a difficult period for the company, which faces increasing expectations to deliver major successes while controlling expenditure.
Netflix has not announced Bajaria’s next professional appointment.
Peter Rice Takes Over Netflix’s Global Content Operations
Netflix has appointed Peter Rice, a veteran executive with extensive experience at Fox and Disney, to lead its global content organisation.
Rice began his career at 20th Century Fox and later held senior positions at Fox Networks Group. He also oversaw Fox Searchlight Pictures, the studio associated with acclaimed films including Slumdog Millionaire and The Shape of Water.
Following Disney’s acquisition of 21st Century Fox, Rice served as chairman of Walt Disney Television and subsequently led the company’s general entertainment operations.
His responsibilities included overseeing major television networks, production studios and programming businesses.
Disney dismissed Rice in 2022. He later returned to film production, working on projects including Saturday Night and Warfare.
At Netflix, Rice will oversee scripted and unscripted television, feature films, live events and international programming.
The appointment gives him considerable influence over one of the entertainment industry’s largest content budgets.
Sarandos described Rice as an experienced executive with strong relationships across Hollywood and a record of managing large entertainment organisations.
Rice, in turn, praised Netflix’s willingness to invest in distinctive creative work and expressed enthusiasm about collaborating with its international teams.
His arrival raises questions about how Netflix will approach future programming decisions, particularly as established franchises conclude and competition for audiences intensifies.
The company has not announced any immediate changes to its existing production commitments.
Netflix Layoffs Affect 1,000 Employees Across Major Departments
The executive reshuffle follows Netflix’s decision to eliminate approximately 1,000 jobs, representing about 6% of its global workforce.
The layoffs primarily affect employees working in product development, technology, legal services, and human resources, according to Reuters.
The company also reduced positions in its entertainment operations, including senior roles within its film division.
Netflix employed approximately 16,000 people at the end of 2025.
The latest reductions mark its largest round of layoffs since 2022, when the company eliminated hundreds of positions after reporting an unexpected decline in subscribers.
In a message to employees, co-chief executives Sarandos and Greg Peters said Netflix needed to allocate resources more carefully while maintaining investment in areas that support long-term growth.
They also emphasised that the company’s business remained financially strong.
The decision nevertheless reflects a broader change in priorities as Netflix attempts to balance investment in original entertainment with demands for greater operating efficiency.
For affected employees, the restructuring brings immediate professional uncertainty. For the wider entertainment industry, the reductions add to concerns about employment opportunities as studios and streaming platforms reconsider production spending.
Why Netflix Faces Pressure Despite Its Global Reach
Netflix remains one of the world’s largest subscription streaming services, with more than 325 million subscribers worldwide.
Its business continues to generate substantial revenue, but its scale has also created pressure to sustain growth and deliver programming that can attract international audiences.
According to industry reporting, Netflix shares have declined sharply over the past year as investors question the company’s growth prospects.
The company has also struggled to increase the amount of time subscribers spend watching its programming at the pace investors previously expected.
This challenge has become more complex as audiences divide their attention between subscription services, social media and free video platforms.
YouTube and TikTok, in particular, compete for viewing time without relying on the same expensive model of commissioning premium television and films.
Traditional streaming rivals, including Disney+ and Amazon Prime Video, continue investing in exclusive programming and established entertainment franchises.
Netflix must therefore compete across several areas simultaneously: subscription growth, audience engagement, advertising revenue and the commercial performance of its original productions.
The company has responded by expanding its advertising-supported service, introducing live programming and pursuing additional entertainment formats.
It has also invested in gaming and other initiatives intended to encourage subscribers to spend more time within its platform.
These investments require significant resources, increasing pressure on management to identify which services and programmes can deliver sustainable returns.
What Bela Bajaria’s Departure Means for Netflix Originals
Bajaria’s departure creates uncertainty about the direction of Netflix’s global programming strategy, although the company has not announced plans to abandon its existing international production model.
Under her leadership, Netflix continued developing original content across Europe, Asia, Latin America, and other international markets.
The strategy helped establish the company as a major distributor of non-English-language entertainment.
Productions such as Squid Game showed that local storytelling could achieve global commercial success without following traditional Hollywood formulas.
Netflix also expanded its investment in established franchises and programmes capable of generating sustained international interest.
Rice inherits a content operation that must continue delivering successful series and films while confronting questions about production costs and audience demand.
A major challenge will involve developing new franchises as long-running programmes conclude or enter their final seasons.
Netflix also faces difficult decisions about expensive original films, which can attract considerable attention without necessarily creating lasting subscriber engagement.
Industry observers will therefore watch whether Rice changes the company’s approach to commissioning, production budgets and relationships with independent creators.
For now, any prediction of widespread cancellations or immediate changes to international programming would be premature.
Netflix has not linked Bajaria’s departure to the performance of any individual series or film.
Netflix Restructuring Comes Before Critical Earnings Report
The restructuring arrives shortly before Netflix’s scheduled third-quarter earnings announcement on October 20.
Investors will examine the company’s revenue, profitability and audience engagement figures for evidence of continued growth.
They will also look for clearer explanations of the workforce reductions and management’s plans to improve the efficiency of its entertainment operations.
The timing places Rice’s appointment at an important moment for Netflix.
He will begin work on October 26, less than a week after the earnings announcement, and assume responsibility for programming decisions that will influence the company’s performance over several years.
His appointment also follows Netflix’s unsuccessful effort to acquire Warner Bros. Discovery’s studio and streaming assets earlier in 2026.
That setback intensified questions about how the company intends to expand its entertainment catalogue and maintain its competitive position.
Netflix continues to possess considerable financial resources, an extensive international distribution network and established relationships with leading creative talent.
But its latest leadership changes indicate that management sees a need to reconsider how the company develops, finances and distributes entertainment.
Bajaria leaves behind a programming business that has played an influential role in making international productions part of mainstream global entertainment.
Rice must now determine how to build on that foundation while addressing the financial and competitive pressures confronting the streaming industry.
The coming months will provide a clearer indication of whether Netflix’s restructuring reflects a personnel change or the start of a broader transformation in its global content strategy.
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