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Roku lays off 300 workers and removes streaming content to save money (www.engadget.com)

submitted 1 year ago by DannyMac@lemmy.world to c/technology@lemmy.world

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Roku looks to be seriously tightening its pursestrings. The company’s laying off a full ten percent of its workforce, over 300 employees, in addition to a conducting a number of other cost-cutting measures, as reported by Variety. These job cuts are just the beginning, as Roku’s also removing streaming content, consolidating office space and reducing outside service expenses. The goal here is a major reduction in the year-over-year operating expense growth rate.

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[–] autotldr@lemmings.world 6 points 1 year ago

This is the best summary I could come up with:

The company’s laying off a full ten percent of its workforce, over 300 employees, in addition to a conducting a number of other cost-cutting measures, as reported by Variety.

These job cuts are just the beginning, as Roku’s also removing streaming content, consolidating office space and reducing outside service expenses.

The goal here is a major reduction in the year-over-year operating expense growth rate.

The company hasn’t announced which content it would be removing from its various streaming platforms and whether or not these cuts would be culled from third-party providers or from in-house projects like the recently-released Weird Al biopic.

Roku’s so serious about these cuts that it’s willing to pony up $65 million for impairment charges after deleting this content, according to an SEC filing.

However, even Roku admits these figures are uncertain, noting in a Q2 letter to shareholders that the “macro environment continued to create uncertainty,” given the ongoing WGA and SAG-AFTRA strikes.

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