Netflix lays off 150 jobs

Streaming video giant Netflix has decided to cut 150 jobs after releasing disappointing first-quarter results, citing "slower revenue growth." Last quarter, Netflix lost about 200,000 subscribers, suffering its first decline in more than a decade.

The layoffs include at least 26 employees working for its fan site Tudum, which supplements Netflix's content, the people said. Before the latest round of layoffs, Netflix fired about 25 marketers, including nearly 12 who worked at Tudum. The 26 employees who were fired on Tuesday learned of the news through a mass email.

Netflix confirmed that most of the employees affected by the layoffs are in the United States. Netflix spokeswoman Erika Masonhall said in a statement that the layoffs were primarily due to financial issues, not performance.

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