Roku axes more staff
March 31, 2023
Streaming specialist Roku has announced it will lay off a further 6 per cent of its workforce, some 200 employees, in a second round of job cuts. The news sent company shares up nearly 3 per cent at the close of trading on March 30th.
The company has also revealed it will exit and sub-lease office facilities that it is not currently occupying in a bid to cut expenses further.
The layoffs and restructuring will cost the company between $30 and $35 million due to severance payments and other employee benefits, the filing said. The changes are expected to be completed by the end of Q2 of this year.
Roku already axed 200 US staff in November 2022, blaming “current economic conditions”.
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