A rockthe streaming company announced this Thursday (30) that plans to lay off about 200 employees, which corresponds to about 6% of its workforce. This news was released through an 8-K filing with the US Securities and Exchange Commission.

This is the second round of layoffs announced by the company in just over four months. The first, held in November last year, specifically affected the US workforce. This time, the location of the affected workers is not listed in File 8-K.

The layoffs are part of the company’s restructuring plan to reduce annual growth in operating costs and prioritize projects that the company believes will provide a higher return on investment. The restructuring is expected to be largely completed by the end of the second quarter of this year.

By the end of 2022, Roku had about 3,600 employees, according to Reuters. The company is one of many tech companies that have slashed their workforce over the past year, along with other giants such as Disney, Netflix, Google, Amazon, Microsoft and Meta.

Roku has been warning about financial difficulties for some time now. In the second quarter of last year, the company warned of a drop in sales of its streaming boxes, which has taken its toll on other aspects of its business. The company is diversifying into various fields, offering a wide range of equipment, expanding its advertising business and producing original content. However, this was clearly not enough to withstand a difficult period for the industry.

Rock over 20 years old

Roku is an American company founded in 2002 by Anthony Wood, known as one of the inventors of the DVR (Digital Video Recorder). The company began by developing TV streaming devices that allowed users to watch Internet content on their TV screens. Over time, the company expanded its business and began offering its streaming platform as a service to other companies, including brands such as Hisense and TCL.

Roku is currently one of the leading video streaming companies offering a wide range of streaming devices including streaming players, soundbars and smart TVs. The company’s platform offers access to a wide range of streaming channels including Netflix, Amazon Prime Video, Disney+ and Hulu, as well as live TV channels and free content. In addition, the company is investing in the production of original content, including series such as The Demons of Dorian Gunn and Channel Roku Presents. With its global footprint, Roku continues to grow its business in the increasingly competitive video streaming market.

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Source: The Hollywood Reporter.

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