Roku to lay off 200 employees in its second round of job cut

Roku, the U.S. streaming device maker, will lay off 6 percent of its workforce, or 200 employees, in its second round of job cuts.
ROKU video streamingRoku also decided to exit and sub-lease office facilities that it did not currently occupy in a bid to lower expenses.

Roku in November cut 200 jobs in the United States.

Job cuts in U.S. tech sector hit 63,000 in the first two months of the year, according to data from Challenger, Gray & Christmas Inc.

Roku, which had about 3,600 full-time employees as of Dec. 31, expects to incur charges of between $30 million and $35 million related to the restructuring.

Majority of the restructuring charges will be incurred in the first quarter of fiscal 2023, while the job cuts will be completed by the end of the second quarter.

Earlier this month, Roku said it had about $487 million, or 26 percent of its cash and cash equivalents, in deposits with SVB Financial Group, which was closed down by California banking regulators.

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