Roku To Let Go 200 Employees, Reduce Real Estate Presence In Second Round Of Restructuring

On March 30, Roku, Inc ROKU disclosed plans to reduce its workforce by 6% or 200 people and pare back certain office facilities that the company does not currently occupy.
Roku estimates to book non-recurring charges of approximately $30 million - $35 million in connection with the restructuring likely to impact the Q1 numbers.
Last November, Roku downsized its workforce by 200 to reduce headcount expenses by a projected 5%.
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In February, Roku reported fourth-quarter revenue of $867.1 million, which was flat compared to the prior year. The total revenue exceeded Street consensus estimates of $809.7 million.
The company reported a loss of $1.70 per share, which beat a Street estimate of a loss of $1.72 per share for the fourth quarter.
In March, Roku named a former Amazon.Com, Inc AMZN executive as CFO, effective May 1. Jedda will succeed current CFO Steve Louden, who shared his exit plan in 2022.
Price Action: ROKU shares traded lower by 4.02% at $61.29 on the last check Thursday.