Roku Plans To Lay Off Another 6 percent Of Its Workforce
March 30, 2023 By Prelo Con
(Image Credit Google)
Image Source: Variety
Roku intends to lay off 200 more employees, the firm stated today in an 8-K filing with the US Securities and Exchange Commission, a little over four months after disclosing previous round of 200 layoffs last November. While the first wave explicitly affected its US staff, today's petition does not mention where the affected personnel are located.
The layoffs will affect around 6% of Roku's personnel and are part of a reorganization strategy to "reduce the firm's year-over-year operational expenditure increase and prioritize initiatives that the company feels will have a stronger return on investment." The structural modifications are planned to be mainly finished by the end of this year's second quarter.
According to Reuters, Roku has around 3,600 workers as of the end of 2022. The company is one of numerous tech companies that have reduced personnel in the last year, including Disney, Netflix, Google, Amazon, Microsoft, and Meta.
Roku has been warning of financial issues for quite some time. It warned of decreased sales of its streaming boxes in the second quarter of last year, which had a knock-on effect on other elements of its company. The firm has been extending into other sectors, such as supplying a wider selection of hardware, expanding its advertising business, and creating original content. But, it is apparent that it has not been sufficient to see the business through a challenging era.
By Prelo Con
Following my passion by reviewing latest tech. Just love it.
