Netflix will replace chief content officer Bela Bajaria with former Disney executive Peter Rice from 26 October. The change comes after layoffs at the streamer and ahead of its next earnings report.
01Summary
- 01Netflix said on Thursday that Bela Bajaria will be replaced as chief content officer by Peter Rice, effective 26 October.
- 02Rice most recently oversaw Disney's cable channels, news programming and coverage of major sporting events.
- 03Bajaria is leaving Netflix after nearly 10 years and had most recently led its global content team.
- 04Netflix said it eliminated about 6% of its workforce, or roughly 1,000 jobs, in layoffs announced a day earlier.
- 05The company said its next quarterly earnings will be reported on Tuesday.
02Why it matters
The leadership change affects how Netflix buys and makes films, series and live events. It also comes at a time when the company is cutting jobs and its shares have fallen more than 20% this year.
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