Netflix dismissed its head of film, Dan Lin, at the start of a weekend after nearly three years in the role. Lin had been tasked with implementing cost discipline and producing fewer, higher-quality films.
This move is part of a broader restructuring following the layoff of approximately 1,000 employees, representing 6% of the company's global workforce. The changes come as Netflix faces stagnant growth in hours watched despite increasing its content budget by 11% to $20 billion.