Netflix Replaces Content Chief Bela Bajaria With Peter Rice Amid 1,000 Job Cuts

Netflix has replaced chief content officer Bela Bajaria, who is of Indian origin, with veteran media executive Peter Rice. The change comes as the streamer prepares its largest layoffs in years.

Bajaria leaves after 10 years. She helped build Netflix's global content business, including Bridgerton, Squid Game, Stranger Things and Wednesday. Rice, a former Disney and Fox executive, will oversee scripted and unscripted series, films, live events and programming worldwide.

Netflix plans to cut about 1,000 jobs, roughly 6 percent of its workforce, across product, technology, legal and human resources. Co-CEOs Greg Peters and Ted Sarandos said the company must prioritize people and resources carefully while investing in future growth.

The move follows a strong financial year. Netflix earned $3.4 billion in the second quarter, and revenue rose 13 percent to $12.56 billion. Its third quarter forecast, however, fell short of Wall Street expectations. Earnings are due next week.

Awards also slipped. Netflix won 16 Primetime Emmys in 2026, down from 30 in 2025 and its lowest total since 2016.Rice takes charge as competition in streaming intensifies.