Roku revealed today in an 8-K filing with the US Securities and Exchange Commission that it will lay off 200 more employees, four months after announcing 200 layoffs in November. Unlike the prior wave, however, today’s filing doesn’t disclose where the impacted workers are from.
The layoffs are part of a reorganization strategy to “lower the firm’s year-over-year operational expenditure increase and prioritize initiatives that the company feels will have a stronger return on investment.” They are projected to affect around 6% of Roku’s staff. By the conclusion of the second quarter, the reorganization should be substantially finished.
According to Reuters, Roku will have 3,600 workers in 2022. Disney, Netflix, Google, Amazon, Microsoft, and Meta have all slashed workers in the past year, as has the corporation.
Roku has warned of financial issues for a long. In the second quarter of last year, it warned of falling streaming box sales, which affected other parts of its company. Diversifying into hardware, advertising, and original content is the company’s strategy. Yet, it hasn’t been enough to survive a tough industry era.