Netflix (NFLX) stock fell in early trading on Friday after the streaming giant announced a leadership shake-up amid slowing viewer engagement. Former Disney executive Peter Rice was named as Netflix's next chief content officer, replacing Bela Bajaria, who is departing after nearly a decade at the streamer. The move comes ahead of the company's quarterly results next week as it seeks to reinvigorate viewership growth and strengthen its content amid intensifying competition. Earlier this week, Netflix said it will cut 6% of its workforce, or about 1,000 employees, marking the company's largest reduction of employees since 2022. (NFLX ) Go deeper with AlphaSpace 70.99 -1.63 (-2.24%) As of 10:08:29 AM EDT. Market Open.
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