Netflix said it plans to reorganize its film unit with the aim of making fewer movies a year as it looks to cut costs with layoffs and a reorganization in the works.

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Netflix Consolidates Film Unit Amid Cost Cuts

Netflix says it's reorganizing its film unit with the aim of making fewer movies a year and consolidating its decision making the streaming giant looking for quality over quantity after years of doing the opposite, which saw the company's annual spending on original content balloon to more than $6 billion. Well as part of the restructuring, some long time executives will be leaving the company and there will be a handful of layoffs. Netflix set to report first quarter results on April 18 and that stack up 2%.