Video streaming device maker Roku to lay off 5% of its workforce

Video streaming equipment maker Roku said on Thursday that due to current economic conditions, it will lay off 5% of its staff, or about 200 employees. 

The company said the plan, approved Thursday, was designed to moderate the rate of growth in the company's operating expenses through 2023 under current economic conditions. Roku's advertising business has also been greatly impacted.

Roku plans to pay US$28 million to US$31 million in severance pay for layoffs. The end of the first quarter is substantially complete.

Roku, Inc. was originally incorporated in Delaware in October 2002 and incorporated in Delaware in February 2008. The company pioneered television programming. Roku, Inc. connects users with the streaming content they love, enabling content publishers to build and monetize large audiences and providing advertisers with unique capabilities to reach consumers. The company is huge today. The disruptive content distribution model of TV streaming is changing the multi-billion dollar economy. Roku, Inc. hopes to capitalize on this huge economic opportunity by providing users, content publishers, and advertisers with the leading TV streaming platform.

Post a Comment