Roku is laying off 300 employees, removing content to cut costs

Streaming platform company Roku is set to lay off over 300 employees, around 10% of its workforce, as part of cost-cutting measures. The company will also review and remove some licensed and owned content from its platform. This will be the third round of job cuts in less than a year for Roku. Additionally, the company plans to reduce new hires, consolidate office space, and cut outside service costs. The layoffs are expected to cost the company $45-65 million in severance and benefits, with further impairment charges related to changes in content and office consolidation. https://ift.tt/RSuBCjt