Netflix announced a drop in its first-quarter subscribers and anticipates a much larger drop in its second quarter. AFP/Chris Delmas
SAN FRANCISCO - Netflix is restructuring amidst a revenue slowdown.
It's cut 2 percent of its workforce or 150 jobs.
Most of the jobs being slashed are in its California office.
The company says it's due to declining revenue and not individual performance.
It comes as the streaming service announced a loss of 200,000 subscribers since the end of last year.
Netflix recently said it plans to charge users in some countries for password-sharing.