Netflix Content Chief Bela Bajaria Exits Amid Layoffs as Former Disney Exec Peter Rice Takes Over

Netflix $NFLX Chief Content Officer Bela Bajaria is leaving the company after 10 years, and former Disney $DIS and Fox executive Peter Rice will replace her starting October 26 to lead its global content organization across series, film, and live events. The leadership change occurs alongside a major restructuring that cut around 1,000 employees, or 6% of Netflix's workforce, this week, while film VP Doug Belgrad and film director Sheroum Kim were also let go. Netflix's original programming momentum has cooled alongside slowing company growth, with the streamer winning 16 Primetime Emmy Awards in 2026—down from 30 in 2025 and a single-year record tie of 44 in 2021, marking its lowest Emmy total since 2016. Rice previously served as chairman of Walt Disney Television and general entertainment until 2022, where he oversaw more than 300 shows and 4,000 hours of annual programming across networks including ABC, FX, Hulu, and Fox Sports. "I know this is a big change in a year that has already had its share. But I also see an opportunity to take our slate to the next level, especially in UCAN [United States and Canada] where we have an outsize impact in creating big, buzzy hits that our members love and drive conversation around the world." — Ted Sarandos, Co-CEO of Netflix.