Following the dismissal of a comparable number of employees in November, streaming provider Roku is now cutting off 200 people.
The corporation announced the most recent layoff in a filing with the US Securities and Exchange Commission.
Roku stated in the filing that it “adopted a restructuring plan on March 29 to minimise the business’ year-over-year operational expense increase and prioritise projects that the company believes would have a stronger return on investment.”
According to the statement, the change “is anticipated to impact about 200 people, or about 6% of the business’s employment, and will result in the exit and sublease, or discontinue use, of certain office premises that the company does not now use.”
At the end of 2022, Roku employed about 3,600 people. The streaming company stated in November 2022 that 200 US employees, or around 7% of its staff, would be laid off.
According to the company’s shareholder letter, Roku’s leadership “believed that the economy was breaking out of pandemic-related difficulties” because the number of employees had increased significantly since 2021.
A hiring freeze was proposed as a preventive measure. The earnings report states, “In Q2, the business reported that it was selling fewer streaming boxes, which affects its income in multiple ways.”