Roku is handing out pink slips again as the streaming platform company takes additional steps to rein in costs. The company said it will lay off about 200 employees, or 6% of the company’s remainin…
and the company told investors it projects overall revenue declining about 5% in the first quarter of 2023. At the same time, Roku’s operating expenses have soared — up 71% in the fourth quarter.
On Thursday, Roku said the latest restructuring plan is aimed at reducing year-over-year operating expense growth and to “prioritize projects that the company believes will have a higher return on investment.” The company estimates it will incur one-time charges of $30 million to $35 million in connection with the latest layoffs and office closures.
Separately, Roku earlier this month encountered a cash-flow issue after the failure of Silicon Valley Bank, where
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Roku to lay off 200 employees, exit some leases to cut costsShares of Roku Inc. rallied 2.7% in premarket trading Thursday, after the streaming-media company disclosed that it would lay off 200 employees, or about 6%...
Read more »
Roku is laying off another six percent of its workforceJust months after a previous round of layoffs.
Read more »
Roku to Cut Another 200 Jobs as Advertising Uncertainty ContinuesThe company says that the cuts represent about 6% of its workforce.
Read more »
Lucid reportedly laying off 18% of its workforce - AutoblogElectric-vehicle maker Lucid Group Inc is planning to lay off about 18% of its workforce, Insider reported on Tuesday, citing sources familiar with the matter and an internal memo.
Read more »
Disney to begin laying off 7,000 employeesThe Walt Disney Co. will start cutting about 3% of its global workforce this week as part of a 'strategic realignment' of the company.Disney announced the layoffs in February as par...
Read more »
Lucid’s laying off 18 percent of its workersLast year it burned through almost $2.6 billion.
Read more »