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Netflix to cut 15 employees after losing 800k subscribers: report

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amny Photo Credit: Netflix DVD envelopes/Getty

Bloomberg today reports that Netflix is cutting 15 employees after losing some 800,000 subscribers last quarter.

The DVD-by-mail and streaming-video service started cutting ahead of its Oct. 24 earnings call, with most of the lost jobs coming from the human resources department, according to Bloomberg.

Following its messy plans to separate its DVD service from its streaming service and raise overall prices, Netflix's stocks began a tumble, now trading at around $80, after brushing up against $300 earlier this summer.

Furious customers threatened to desert Netflix en masse, which may be a cause of the huge loss in numbers, but Netflix is still doing pretty OK: In that same earnings call, it boasted some 23.8 million U.S. customers at the end of September, with international expansions to come.

Netflix declined to comment on the report.

This story has been updated since its original publication with a comment from Netflix.


Follow reporter Tim Herrera on Twitter: @tim_herrera

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