- Bela Bajaria replaced by Peter Rice as chief content officer
Netflix fired content chief Bela Bajaria and film chief Dan Lin, replacing Bajaria with former Disney executive Peter Rice. The company laid off 1,000 employees (6% of staff) as part of a restructuring. Engagement is declining as viewers shift to YouTube and TikTok. Stock is down 40% from a year ago. Q3 earnings are due Tuesday.
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