Roku lays off 200 US employees

Roku lays off 200 US employees
In brief

Roku is laying off around 200 US employees, the company announced yesterday.

The company is seeking to reduce headcount expenses by 5% amid the “current economic conditions in our industry”.

In Roku’s latest quarterly earnings release, the company warned of a “weak Q4” with an expected year-over-year net revenue decline of 7.5% attributed to “inflationary pressures and a slowdown in adspend”.

Other media companies this week signaled layoffs would be coming over the winter season, including CNN, Amazon, and potentially Google parent company Alphabet.

Meta and Twitter have already reduced their workforces significantly in a bid to cut costs.

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