Roku Laying Off 10% of Employees, Will Take up to $65 Million Charge To Remove Streaming Content

Roku will cut more than 300 staffers -- laying off 10% of its workforce -- as the streaming-platform company continues its battle to control costs. From a report: In addition, Roku will remove certain licensed and owned content from its platform as part of a 'strategic review of its content portfolio,' resulting in an impairment charge of up to $65 million in the current quarter, the company disclosed in an SEC filing Wednesday. Other cost-cutting measures Roku outlined are consolidating office space and reducing outside services expenses.

The goal is to reduce year-over-year operating expense growth rate, the company said. The layoffs represent Roku's third round of job cuts in less than a year, after it pink-slipped 200 staffers in November 2022 and another 200 in March 2023. As of the end of 2022, Roku had approximately 3,600 full-time employees. The company, in addition to the layoffs, said it also plans to cut back on new hires.

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