More Roku Layoffs Amid Widening Losses



More Roku Layoffs Amid Widening Losses

Roku's Tough Choices: Layoffs and Stock Market Resilience


More Roku Layoffs


Roku Inc. is facing some tough decisions these days. On September 20, they announced that 136 employees at their San Jose headquarters will be saying their goodbyes. The layoffs will officially take effect on November 20. But here's the silver lining: affected employees will receive pay and maintain their benefits until then. And for those with stock grants set to vest during this period, they'll still get what's coming to them.

This isn't the first time Roku has had to trim its workforce this year. Back in the spring, they let go of 200 people, with 91 of them in San Jose. But it's not just about employees; Roku is also scaling down its real estate footprint. They're even looking to sublease half of their space in Coleman Highline, including their headquarters.

So, what's driving all this downsizing? Well, Roku has been dealing with some hefty losses. In the first half of this year, they took a hit of $301.2 million, despite having sales of $1.59 billion. Last year, it was even steeper, with a loss of $498 million and sales of $3.13 billion.

Now, here's the twist: despite these losses, Roku's stock (Nasdaq: ROKU) is up by around 39% this year. As of Thursday, it closed at $56.41 a share.

So, while Roku is tightening its belt, they're keeping their chin up in the stock market. Tough times, but they're not out of the game. IMHO, that's some impressive resilience.






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