Roku

Streaming platform Roku is laying off 10% of its workforce, affecting approximately 360 employees, as part of a significant cost-cutting initiative announced in late 2023. This marks the company's third round of layoffs within a year, following cuts of 200 workers each in March and November. With a total workforce of around 3,600, the move aims to reduce operating expense growth. Alongside the layoffs, Roku is consolidating office space, slowing hiring, and reviewing its content portfolio, incurring substantial restructuring charges. Concurrently, the company raised its third-quarter revenue and EBITDA guidance, signaling a strategic shift toward improving profitability after a period of heavy investment.

Roku conducted layoffs and removed streaming content as part of cost-cutting measures, marking another round of workforce reductions.

Roku, a TV streaming hardware and software company, announced layoffs affecting approximately 10% of its workforce, which translates to more than 300 employees, as part of efforts to reduce operating expenses that have been growing rapidly. The company, which had around 3,600 full-time employees at the end of 2022, is also consolidating office space, reviewing its content portfolio, and limiting new hires. This follows a previous round of layoffs in March 2023, where about 200 employees were let go. Roku expects to incur significant costs related to severance and impairment charges due to these changes, with its revenue primarily driven by advertising from its platform, including The Roku Channel, despite reporting a net loss in the second quarter of 2023.

Roku laid off 200 employees representing approximately 6% of its workforce on 2023-03-30.

Streaming platform Roku announced on November 17, 2022, that it will lay off 200 employees in the U.S., representing about 7% of its workforce, which totaled approximately 3,000 full-time employees as of late 2021. The company cited challenging economic conditions, including inflationary pressures and a significant slowdown in advertising spending, as the primary reasons for the restructuring. This move, aimed at reducing operating expenses and focusing on strategic priorities, is part of a broader wave of layoffs across the tech and media industries. Roku expects to incur related charges of $28-31 million, with the process largely completed by early 2023.