Netflix Restructures Film Group, Cuts Jobs and Executives Exit.

Netflix is restructuring its movie division and releasing fewer movies overall for 2023, combining the team working on small projects with a budget $30 million or less and the unit that produces mid-budget films that cost $30 million to $80 million to make. The restructuring will result in a "handful" of layoffs and the departure of two notable executives. Netflix Film chief Scott Stuber reportedly decided to cut down on the titles the service is releasing this year so he could ensure that the division is producing more high-quality projects.