Ted Sarandos

Money Moves

Co-CEO; announced about 1,000 job cuts in October 2026 and told investors the company needs better execution in the U.S.

Netflix filed California layoff notices in October for 267 Los Angeles jobs and 227 at its Los Gatos headquarters. They cover part of about 1,000 cuts worldwide, roughly 6% of the company's staff. An August notice covered 59 more Los Angeles jobs, and the Los Angeles Times described the October round as believed to be the largest in Netflix's history.

Updated Oct 28

Money Moves

Said Netflix needs better execution in the US after weak guidance

Netflix is cutting about 1,000 jobs, roughly 6% of its staff, and has replaced content chief Bela Bajaria with Peter Rice, the former Disney and Fox executive who now oversees a content budget of about $20 billion. Film chief Dan Lin also left, and the company told employees the cuts were part of an internal plan it called Project Meridian, according to the Wall Street Journal.

Updated Oct 22

Money Moves

As of July 2026: Co-leading content and overall strategy

Netflix reported second-quarter results on July 16, 2026, and pointed investors at one number: advertising. The company said its ad business should nearly double this year, approaching a $3 billion annual run-rate.

Updated Jul 16

Money Moves

As of May 2026: Leading Netflix's acquisition defense; scheduled to testify before Senate in February 2026

On December 5, 2025, Netflix announced a definitive deal to acquire Warner Bros.' film and television studios and streaming businesses, including HBO and HBO Max, valued at $72 billion in equity and $82.7 billion including debt. On January 20, 2026, the parties amended to an all-cash structure at $27.75 per share, with a shareholder vote expected by April 2026.

Updated May 10

Money Moves

As of May 2026: Now actively campaigning to WBD shareholders and emphasizing regulatory execution; Netflix says HSR materials have been submitted.

After Netflix and Warner Bros. Discovery announced their $72 billion equity-value agreement on December 5, the transaction quickly became a live bidding contest and a regulatory test case. On December 8, Paramount Skydance launched an unsolicited all-cash tender offer at $30 per share to derail the Netflix deal and keep WBD intact, including networks slated for its Discovery Global spin-off. Within days, Netflix began a coordinated shareholder push backing its signed merger agreement and emphasizing regulatory execution, while WBD prepared formal filings to respond to the tender offer.

Updated May 9