Netflix Reports Q3 Earnings Amid Executive Departures and Workforce Reductions

Netflix announced its third-quarter earnings, surpassing EPS expectations despite a 6% drop in shares. The company also confirmed approximately 1,000 layoffs and a significant leadership restructuring, including the departures of head of film Dan Lin and chief content officer Bela Bajaria, with Peter Rice joining. These changes, alongside a lowered full-year 2026 ad revenue outlook, aim to improve content execution, particularly in the U.S., signaling a strategic shift for the streaming giant.