Roku, a San Jose streaming giant, has disclosed plans to jettison hundreds of employees.
SAN JOSE — Roku, a San Jose streaming giant, has disclosed plans to jettison hundreds of employees, in a new disclosure that widens the increasingly painful job cuts that have jolted the Bay Area’s tech sector.
“Roku approved a plan to reduce the company’s headcount expenses by a projected 5% to slow down the Company’s 2023 operating expense growth rate due to current economic conditions,” Roku revealed in the SEC filing. “This will affect approximately 200 employee positions in the United States.” Over the one-year period that ended in September, Roku lost $237.1 million on revenue of $3.12 billion. During 2021, Roku posted a profit of $242.4 million on revenue of $2.76 billion, according to the Yahoo Finance website.
“Severance payments, notice pay , employee benefits contributions and related costs” were listed as the primary factors behind the charges, the company said.
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