Roku to cut staff by another 10%
SEPTEMBER 7, 2023 12.22 EUROPE/LONDON BY JULIAN CLOVER

300 staff members risk losing their jobs as Roku attempts to keep its costs under control.

A filing with the Securities and Exchange Commission on Wednesday revealed that Roku would be removing some licensed and owned content from its platform following a strategic review of its content portfolio. The content’s removal will lead to an impairment charge of $65 million.

Roku said the ultimate goal was to reduce its operating expenses year-on-year.

It’s the third round of job cuts at Roku in less than a year after 200 staff were made redundant in November 2022 and a further 200 the following March.

The cost of the latest round of redundancies is expected to cost between $55 million and $65 million. The majority of the costs are expected to land in the third quarter.

Excluding restructuring and impairment charges, Roku is anticipating third-quarter net revenue in a range between of $835 million and $875 million, slightly above its previous forecasts.