Roku to Cut its Workforce by 6%
<p><a href='https://financialmodelingprep.com/financial-summary/ROKU'>Roku (NASDAQ:ROKU)</a> announced that it will reduce its workforce by around 200 jobs or 6% of its total employees. The company's restructuring plan was approved yesterday, with the goal of reducing operating expenses and prioritizing high-return-on-investment projects. As part of the cost-cutting measures, Roku will also be leaving certain office facilities. The company expects to incur charges of $30-35 million, with the majority of the expenses incurred in the first fiscal quarter. </p>
<p>Implementation of the headcount reductions and cash payments will be largely completed by the end of Q2 2023. Roku previously announced similar job cuts in November 2022, when it reduced its workforce by 200 jobs.</p>
NASDAQ:ROKU