U.S. video streaming giant (Netflix) Netflix said it is restructuring its film division and will reduce movie production.
The change will result in a handful of layoffs, including the departure of two executives, as Netflix consolidates the divisions that make small and medium-sized films. One is Lisa Nishimura, who led Neflix’s entry into stand-up comedy and original documentaries — she has been with the company for more than 15 years and now oversees documentaries and small-budget films — and the other is Ian brick, vice president of the film division, who has also been with Neflix for more than a decade and helped produce the film “Kissing Booth. Kissing Booth, and has worked with filmmakers such as Nicole Harroffenthal and the DiPlasse brothers.
Netflix has recently released more original films than any other company in Hollywood, producing more than 50 projects a year. But film executive Scott Stuber is trying to cut back on production and focus his energy and resources on improving the quality of film and television.
Netflix has already had several films win Oscars, such as “All Quiet on the Western Front,” which won best international feature this year, and films like “Blade Runner 2: The Glass Onion,” which has attracted tens of millions of viewers. But many more films have gone online with little fanfare and then flopped quietly.