Netflix Needs Another 'Squid Game' Moment As Growth Pressure Mounts

• Netflix cuts 1,000 jobs and replaces content chief amid slowing growth. • Stock down 22% in 2026; investors seek a breakout hit. • New creator strategy and YouTube competition are key focus areas. Netflix (NFLX) is cutting 1,000 jobs (6% of staff) and replacing content chief Bela Bajaria with ex-Disney executive Peter Rice. Shares are down 22% in 2026 as the streamer seeks a breakout hit to boost engagement and counter rising YouTube competition. LightShed’s Rich Greenfield stressed that Netflix needs stronger viewing hours and a major content success to reaccelerate growth.