{"id":2024273,"date":"2023-09-07T05:00:02","date_gmt":"2023-09-07T09:00:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/roku-cutting-10-percent-of-workforce-freezing-hiring\/"},"modified":"2023-09-07T05:02:19","modified_gmt":"2023-09-07T09:02:19","slug":"roku-cutting-10-percent-of-workforce-freezing-hiring","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/roku-cutting-10-percent-of-workforce-freezing-hiring\/","title":{"rendered":"Roku to reduce workforce by 10%, halt hiring."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Froku-cutting-10-percent-of-workforce-freezing-hiring%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2024273&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>Digital\u2064 streaming device maker Roku is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/steve-daines-reveals-why-party-isnt-getting-involved-in-picking-a-candidate-in-ohio\/\" title=\"Steve Daines explains party's hands-off approach to Ohio candidate selection.\">making strategic moves<\/a> to\u200c cut costs, \u200bincluding\u200b another round \u200dof layoffs and \u2062a slowdown in hiring,\u200d according to a \u2062recent regulatory \u200dfiling with the \u200cSecurities and Exchange Commission (SEC).<\/p>\n<p>Roku, \u2064based in San \u200dJose, California, has \u200cevaluated its operations and\u200d decided to \u2063implement measures to reduce its year-over-year operating expenses. This \u2064includes a workforce\u200b reduction, limiting new\u200b hires, and \u200dother <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawsuit-alec-baldwin-had-no-reason-to-fire-gun-during-scene-being-rehearsed\/\" title=\"Lawsuit: Alec Baldwin Had No Reason to Fire Gun During Scene Being Rehearsed\">cost-cutting measures<\/a>.<\/p>\n<blockquote>\n<h2>Related Stories<\/h2>\n<ul>\n<li>\n        <a href=\"http:\/\/www.theepochtimes.com\/opinion\/sinking-profits-means-layoffs-5429572\">Sinking\u200d Profits\u200d Means Layoffs<\/a><\/p>\n<p class=\"text-comp-caption\">7\/28\/2023<\/p>\n<\/li>\n<li>\n        <a href=\"http:\/\/www.theepochtimes.com\/article\/anheuser-busch-announces-layoffs-amid-bud-light-boycott-5427041\">Anheuser-Busch Announces\u2063 Layoffs Amid\u2062 Bud Light Boycott<\/a><\/p>\n<p class=\"text-comp-caption\">7\/27\/2023<\/p>\n<\/li>\n<\/ul>\n<\/blockquote>\n<p>The company \u2062expects\u200b these layoffs to affect approximately 10 percent \u200cof its employees. \u2062Additionally, Roku anticipates\u2062 incurring restructuring charges of \u200c$45 million to\u200d $65\u200b million related to \u200bthe \u200djob \u200dcuts.<\/p>\n<p>Roku had 3,600 full-time workers in\u2062 14 countries \u200bas of December 31, 2022, according to \u2062its annual report.<\/p>\n<p>Alongside the layoffs, Roku\u200d plans\u2062 to\u200d consolidate office space, reduce outside services,\u2064 and conduct a strategic review \u200cof its content\u200c portfolio. This review may <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/roku-cutting-10-percent-of-workforce-freezing-hiring\/\" title=\"Roku to reduce workforce by 10%, halt hiring.\">involve removing select licensed<\/a> and produced content from its streaming\u200d platform.<\/p>\n<h2>3rd Quarter Revenue Expectations<\/h2>\n<p>Roku expects to record an impairment charge of\u2062 $160 million to $200 million for the office consolidation and a\u2062 $55 \u200dmillion to $65 \u2063million loss for the streaming reduction.<\/p>\n<p>This marks \u2062the third\u200c round of layoffs at Roku in less than a year.\u200b The company previously laid \u200coff 200 workers in March \u200dand 200 U.S. positions in November \u200c2022.<\/p>\n<p>Similar to other tech giants, Roku has faced\u200b challenges with slowing revenue in recent \u200cmonths. The COVID-19 pandemic \u200binitially\u200c boosted profits for\u2063 these companies, but as the situation evolves, they have experienced a decline \u2064in revenue.<\/p>\n<p>Roku began posting quarterly losses in 2022 and reported a $107.6 \u2064million loss in July of this year. However, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-loses-billions-on-electric-cars-embraces-hybrids\/\" title=\"Ford loses billions on electric cars but embraces hybrids.\">company remains optimistic<\/a> about \u2063its\u2062 future growth \u2062as advertising recovers.<\/p>\n<p>In\u2062 its regulatory filing, Roku stated that it expects adjusted third-quarter \u2063revenue of\u200b between $835 million\u2063 and $875 \u2063million.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>to reduce costs,&#8221; the filing stated. The company did not disclose the number of layoffs or provide specific details on the cost-cutting measures. This decision comes as Roku faces increasing competition in the digital streaming market and aims to improve its financial performance.<\/p>\n","protected":false},"author":69,"featured_media":2024274,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2024273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2024273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2024273"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2024273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2024274"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2024273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2024273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2024273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}