Roku is implementing significant cost-cutting measures, including laying off over 300 employees, which accounts for ten percent of its workforce, as reported by Variety. In addition to job cuts, the company is removing streaming content, consolidating office space, and reducing outside service expenses. The primary objective is to achieve a substantial reduction in the year-over-year operating expense growth rate.
It remains undisclosed which content will be removed from Roku’s streaming platforms and whether these cuts will affect third-party providers or in-house projects such as the recently-released Weird Al biopic. Roku is committed to these cuts to the extent that it is willing to allocate $65 million for impairment charges associated with the deletion of this content, according to an SEC filing. Furthermore, the company plans to allocate $45 million to $65 million to provide support for outgoing employees.
2023-09-06 13:37:15
Link from www.engadget.com rnrn