MediaUS

Roku Layoffs

September 2023

Roku announced a layoff affecting 360 employees (10% of its workforce) in September 2023. The company operates in the Media sector.

People Affected

360

Percentage

10%

Announced Date

Sep 6, 2023

About

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.