300 staff members risk losing their jobs as Roku attempts to keep its costs under control.
A filing with the Securities and Exchange Commission on Wednesday revealed that Roku would be removing some licensed and owned content from its platform following a strategic review of its content portfolio. The content’s removal will lead to an impairment charge of $65 million.
Roku said the ultimate goal was to reduce its operating expenses year-on-year.
It’s the third round of job cuts at Roku in less than a year after 200 staff were made redundant in November 2022 and a further 200 the following March.
The cost of the latest round of redundancies is expected to cost between $55 million and $65 million. The majority of the costs are expected to land in the third quarter.
Excluding restructuring and impairment charges, Roku is anticipating third-quarter net revenue in a range between of $835 million and $875 million, slightly above its previous forecasts.
