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Story summary
- Netflix co-CEO Greg Peters announced a cut of about 1,000 jobs.
- The layoffs represent roughly 6% of Netflix’s global workforce.
- Peters said the cuts aim to improve efficiency and redirect investment amid a fast-changing media landscape.
- Netflix dismissed content chief Bela Bajaria and film boss Dan Lin after the layoffs.
- Former Disney and Fox executive Peter Rice was hired to replace Bajaria as content chief.