Roku Inc said on Thursday that it planned to cut 200 jobs in the United States.
It is the latest firm within the tech sector to lay off employees amid a slowing economy and multi decade-high inflation.
Roku said it expected to take a charge of $28 million to $31 million during the fourth quarter in association with the layoffs – mostly severance payments.
The company said the layoffs would reduce workforce expenses by an estimated 5%.
The video-streaming device maker blamed “current economic conditions” for the workforce reduction.
As of December 31st 2021, some 3,000 people in 13 countries were in full-time employment with Roku Inc.
Other tech companies such as Meta Platforms Inc and Snap Inc have also cut staff in 2022, as they are facing a slowing growth and rising costs.
Meta said earlier this month it would slash its workforce by 13%, while laying off about 11,000 people, while Snap cut nearly 20% of its staff, or over 1,200 people.