Netflix Announces Layoffs and Executive Shake-Up as Investors Are Reassured

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Netflix co-CEOs Ted Sarandos and Greg Peters told investors this week that the company has nothing to worry about. The streamer plans to cut about 1,000 jobs across its product, technology, and legal departments. Several senior content leaders, including the chief content officer, the film chairman, and a film vice president, are being removed. The company has also brought in a new chief operating officer whom Sarandos described as one of the most effective operators at scale in entertainment. Critics note that such a rapid series of leadership changes could be worrying even under better conditions.

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