Ustream, a live streaming video service based in Mountain View California, has laid off 4 people, or about 10% of staff, we’ve confirmed. At least two of the four staff let go were Director level or higher.

The downsizing has been added to the Layoff Tracker, which has tracked over 300,000 layoffs since last year.

Ustream has been in the news a lot lately and continues to innovate on the iPhone. The company has raised $13.1 million over two round of financing. The most recent round was a year ago, in April 2008.