Roku plans to lay off another 200 workers, or 6% of its workforce, the video-streaming company says in a government filing, just months after a prior round of layoffs in the fall that slashed 200 jobs.
The company's revenue surged during the pandemic when customers stuck indoors came to rely on at-home entertainment.
However, the return of consumer habits more closely resembling pre-pandemic life has posed a challenge for the San Jose, California-based company. The round of layoffs, which the company described as a "restructuring plan," aims to "lower the Company's year-over-year operating expense growth and prioritize projects that the Company believes will have a higher return on investment," the government filing said.
The layoffs will cost the company between $30 and $35 million due to severance payments and other employee benefits, the filing said.The company's revenue stood essentially unchanged over the last three months of 2022 compared with the same period a year ago, according to an earnings
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