Netflix Regime Change: Ruthless Cuts Set the Stage for a New Era at Streaming Giant
It's now in open warfare with YouTube and its infinite, cheap content. The new plan may be to recalibrate around the U.S. market once again, with a focus on the big and buzzy and, yes, franchise-worthy.
By Alex Weprin, Borys Kit, Mia Galuppo
October 16, 2026 10:45am
Share:
- X
- Tumblr
- Post a Comment
Add us as a Google Preferred Source
Bela Bajaria, who spent 10 years at Netflix before being ousted, was in Cannes receiving an honor just days before learning of her pink slip. Getty Images
Even though Ted Sarandos had long hinted at a major reorganization at Netflix, Bela Bajaria didn’t expect the ax to fall on her role. As lower-level executives were informed of layoffs, sources tell The Hollywood Reporter, Bajaria didn’t know she was going to be ousted until at least Wednesday and had been personally informing staff of company cuts.
The ousting of Bajaria and the arrival of former Fox exec Peter Rice hit Netflix employees hard. Many are already reeling from the streaming giant’s stock slide, as Netflix strongly encourages employees to take a portion of their pay in the form of equity.
But the change also signals a major strategic shift for the company. Sarandos and Rice are expected to detail their thinking during a Wall Street analyst briefing on October 21st. Sarandos informed staff in an email that a company-wide town hall will be held on October 21st to delve into more specific details.