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netflix-in60-5.jpg Mar 31

Netflix Restructures Film Group As It Scales Back Movie Output

  • Video streaming service Netflix Inc is restructuring its film group, which will result in layoffs and the departure of two of its most experienced executives.
  • As part of the restructuring, Netflix will combine small and midsize picture productions units, resulting in a few job cuts, and scale back the company's output to ensure high-quality titles, the report said.
  • It will also centralize decision making of different divisions.
  • Netflix did not immediately respond for comments.