this post was submitted on 07 Sep 2023
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443
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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[–] ArbiterXero@lemmy.world 20 points 1 year ago (1 children)

It’s not late game investors, but short term investors.

I mean I guess it’s both, but short term investors don’t give a fuck about the fundamentals of a company, they care about growth, or at least the illusion of growth above all else.

So you end up with gigantic conglomerates that do everything. Piano makers that sell dirt bikes, movie companies that run theme parks, kettle makers that run the largest financial institutions in the world. It makes no logical sense, but that doesn’t matter…. Line goes up.

[–] scytale@lemm.ee 13 points 1 year ago (2 children)

Piano makers that sell dirt bikes, movie companies that run theme parks, kettle makers that run the largest financial institutions in the world

I know that’s Yamaha and Disney, but I’m blanking on the last one. I probably know it but don’t know about the kettle side.

[–] instamat@lemmy.world 2 points 1 year ago

You haven’t heard of JP Morgan Chase kettles?

[–] ArbiterXero@lemmy.world 1 points 1 year ago

General electric