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Roku to lay off 200 US staff amid challenging economic conditions

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. is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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