Webdesk: Bloomberg reported on Thursday that Netflix Inc. is restructuring its film group. Which will lead to layoffs and the leaving of two of its most experienced executives.
The report said that as part of the restructuring, Netflix will combine its small and midsize picture productions units, which will lead to the loss of a few jobs, and cut back on the number of titles it makes to make sure they are of high quality. It will also put all of the divisions’ decisions in one place.
Lisa Nishimura, who was in charge of documentaries and lower-budget movies. Ian Bricke, who was a vice president in the film group, will leave the company after more than a decade.
Reuters asked Netflix for a comment, but Netflix didn’t answer right away.
In the fourth quarter of 2022, the company added about 7.6 million new subscribers. In the first half of the year, the company lost subscribers as competitors like Paramount+ and Disney+ drew in more viewers.
But in the last three months of 2022, the average revenue per member went down in all regions.
