Netflix Stock Slides as Leadership Shake-Up Deepens

Netflix’s latest shake-up reaches beyond the executive suite. The company is cutting about 1,000 jobs as it replaces content chief Bela Bajaria, while director David Fincher plans to end his exclusive deal following a reported clash over spending. For a streamer built on disrupting Hollywood, the pressure is now coming from inside its own operation. Former Disney and Fox executive Peter Rice will replace Bajaria on Oct. 26. She joined Netflix in 2016 and became chief content officer in 2023. Her departure follows layoffs affecting roughly 6 percent of the company’s workforce. That leaves Rice taking over while Netflix faces doubts about whether its spending is producing enough growth. Shares have fallen about 40 percent over the past year. Viewing hours grew just 2 percent during the first half of 2026. Fincher’s decision adds another problem. The director helped establish Netflix as a home for original programming with House of Cards. Now he isn’t renewing the exclusive agreement that expires in 2027. That doesn’t mean he has abandoned his upcoming movie or ruled out future Netflix projects. According to reports, Fincher clashed with film chairman Dan Lin over The Further Mis-Adve...