Netflix Co-CEO Acknowledges Need for Stronger US Content After 1,000 Layoffs
Netflix has recently cut roughly 1,000 jobs and made leadership changes as its revenue growth has slowed. Peter Rice has replaced Bela Bajaria as chief content officer, and he will also oversee the film division. The company's third-quarter results showed its slowest revenue growth in nearly three years, prompting worries about its programming approach. Co-CEO Ted Sarandos conceded that Netflix must improve its execution in the United States market.
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