Streaming giant Netflix is reportedly restructuring its films division and has announced it is laying off 15 employees in this initial phase of the effort.
The company did not release the identities of those being let go, but the restructuring is being undertaken by new film studio chief Dan Lin, according to Deadline.
Deadline added that more than 15 positions could be eliminated as the shuffling continues.
Netflix Enters Its Dan Lin Era https://t.co/aI4dDmyv4v
— The Hollywood Reporter (@THR) April 1, 2024
Lin recently replaced former division head Scott Stuber who left his position last month.
The restructuring will include film projects being grouped by genre with Ori Marmur leading the action, fantasy, horror and sci-fi titles, Kira Goldberg heading up thrillers and the family-friendly grouping, Niija Kuykendall will handle faith-based, young adult and holiday films, and Jason Young will take on comedies and rom-coms.
This reorganization began several months ago, but the final plan is not yet set in stone.
In Jan, the streamer reported adding 13 million new subscribers and announced a $5 billion deal to broadcast the WWE.
The company said had a revenue of $8.8 billion and operating income of $1.5 billion in the 4th quarter of last year, its second best quarter ever for new subscribers.
Netflix has largely avoided the mass layoffs seen in other entertainment conglomerates.
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