SVB Destroyed! Roku Becomes 200 Employee Layoffs Again

JAKARTA - A streaming device manufacturer, Roku, has again terminated employment (PHK) as many as six percent of its employees or about 200 people.

Previously in November 2022, Roku had lost 200 of its employees in response to difficult economic conditions.

At the same time, the company said most layoffs would occur in the fourth quarter (Q4), with the remaining cuts expected to be completed by the end of Q2 2023 or June.

Roku stated that layoffs will help companies limit their spending and focus on projects that will have higher investment returns.

In addition to laying off its employees, Roku also plans to close or rent out offices that are not used actively.

To deal with layoffs and building closures, Roku will pay between 30 million US dollars and 35 million US dollars. Most of the costs have to be paid in Q1, or by the end of this month.

Reported by Reuters, Roku has about 3,600 employees by the end of 2022. The company is one of many tech giants to have cut staff over the past year, along with Disney, Netflix, Google, Amazon, Microsoft and Meta.

Launching Engadget, Friday, March 31, Roku is grappling with a towering recession and the end of a pandemic-era explosion, where many people choose to stay at home and spend time watching TV.

The company was also not saved by the Silicon Valley Bank's failure earlier this month, Roku could lose more than 25 percent of its money equivalent to IDR 7.2 trillion if regulators do not intervene to protect deposits.