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

Netflix co-CEO Ted Sarandos. | Photo by Noam Galai/Getty Images Netflix co-CEOs Ted Sarandos and Greg Peters assured investors this week that they have nothing to be concerned about. Sure, the company was going to lay off 1,000 employees, downsizing its product, tech, and legal departments, and was ousting its chief content officer, film chairman, and film vice president. 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. Though executive shake-ups aren't uncommon, having so many of them back t…

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