Posted Fri Nov 4, 2011 at 10:45 AM PDT by Dick Ward
Things are on a downturn for the streaming service which was dominating until oh so recently.
The folks at Netflix were used to an upward trend in sales and subscribers. More people kept joining the service and the money kept rolling in - it seemed like there was no end in sight. Then they made some really strange decisions, including a massive price hike, and a quickly scuttled branch-off service called Qwickster.
They've been feeling the hurt on the stock market and it's finally come to some pretty significant layoffs. It's public that the company has laid off 15 or so people in human resources, but according to Hacking Netflix, over 90 employees have been fired from the main call center. Netflix says they hired these new people in anticipation of the Qwickster/Netflix split, but when that didn't happen, they were let go.
This certainly isn't the kind of news that spells doom for the company, but it does reflect further on the company's poor decision making and possible overreach.
Source: Hacking Netflix
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