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Roku to lay off 200 employees
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Streaming device provider and FAST operator Roku is to lay off 6% of its workforce, equivalent to 200 employees.
Anthony Wood
The move, a second round of layoffs for the company, sent its shares higher late yesterday.
Roku said that the redundancies were part of an attempt to cut costs. The company will incur charges of between US$30-35 million related to the restructuring, mostly in its fiscal first quarter, while the job losses will be completed during the second quarter.
CEO Anthony Wood recently reiterated that Roku would be focusing on achieving positive adjusted EBITDA next year when he appointed Dan Jedda to succeed Steve Louden as CEO.
Roku was caught up in the high-profile failure of Silicon Valley Bank (SVB). The tech company held about 26% of its cash in SVB, or US$487 million.
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