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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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[–] Nusm@lemm.ee 14 points 1 year ago

Looks like it’s time for me to sell my Roku stock that I bought during the pandemic when their price was constantly going up.

To be fair, it’s pretty telling that I have a TV with built in Roku, but I only use it to access my Apple TV which is faster and smoother.