Roku is laying off around 10% of staff as it “performs a strategic review of [its] content portfolio.” The media company will be hit with a restructuring charge of around $45M to $65M f…
is laying off around 10% of staff as it “performs a strategic review of [its] content portfolio.”
The media company will be hit with a restructuring charge of around $45M to $65M following the redundancy process, which will hit around 300 staffers. The redundancies and charges should have concluded by the end of this year, Roku said. Roku made the announcement via an SEC filing early this morning U.S. time, with the filing declaring adjusted revenue and EBITDA Q3 estimations of $835M to $875M for the former and negative $20M to $40M for the latter.
Alongside the layoffs, the California-headquartered outfit is also “performing a strategic review of its content portfolio, reducing outside service expenses” and “consolidating office space utilization.” Roku expects to record an impairment charge in a preliminary estimated range of $160M to $200M related to ceasing to use certain office facilities and an impairment charge in a preliminary estimated range of $55M to $65M related to removing select existing licensed and produced content from company-operated services on its TV streaming platform, it said.
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