Netflix can’t fire its way out of this downward spiral

<figure> <img alt="The Netflix logo on a red and blue background." data-caption="" data-portal-copyright="Image: The Verge" data-has-syndication-rights="1" src="https://platform.theverge.com/wp-content/uploads/sites/2/2025/05/STK072_VRG_Illo_N_Barclay_1_netflix.jpg?quality=90&#038;strip=all&#038;crop=0,0,100,100" /> <figcaption> </figcaption> </figure> <p class="wp-block-paragraph">Netflix co-CEOs Ted Sarandos and Greg Peters assured investors <a href="https://www.theverge.com/streaming/1014826/netflix-earnings-q3-2026-viewing-time">this week</a> that they have nothing to be concerned about. Sure, the company was going to lay off <a href="https://www.theverge.com/tech/1011058/netflix-layoff-six-percent-thousand-employees">1,000 employees</a>, downsizing its <a href="https://variety.com/2026/film/news/netflix-film-vp-doug-belgrad-layoff-1236911877/">product, tech, and legal departments</a>, and was ousting its <a href="https://www.theverge.com/news/1012536/bela-bajaria-netflixs-chief-content-officer-is-leaving">chief content officer</a>, <a href="https://www.theverge.com/streaming/1013751/netflixs-head-of-film-is-out-too">film chairman</a>, and <a href="https://variety.com/2026/film/news/netflix-film-vp-doug-belgrad-layoff-1236911877/">film vice president</a>. But it had also hired a new COO - "one of the most effective at-scale operators in the entertainment industry," Sarandos said - to turn things around.</p> <p class="wp-block-paragraph">Though executive shake-ups aren't uncommon, having so many of them back to back would send a concerning message even in the best of circumstances. With Netflix, however, the situation lo …</p> <p><a href="https://www.theverge.com/streaming/1017304/netflix-layoffs-bela-bajaria-peter-rice-dan-lin-doug-belgrad">Read the full story at The Verge.</a></p>