Posted on 09/06/2023 1:14:46 PM PDT by ChicagoConservative27
U.S.-based streaming company Roku is planning to cut hundreds of positions in its workforce and slow down its hiring process in an effort to boost profits after a series of quarterly losses.
In a Securities and Exchange Commission (SEC) filing Wednesday, Roku, which specializes in audio and video manufacturing, said it plans to lay off 10 percent of its workforce, or approximately 360 people.
Roku is hoping for a restructuring charge boost of $45 million to $65 million related to the layoffs, as the charge will include severance and benefits costs.
According to an annual report, the San Jose, Calif.-based tech firm had 3,600 full-time workers in 14 countries as of December.
(Excerpt) Read more at thehill.com ...
They must be seriously bloated. I have to sit through about 20 ads to watch a rerun of Frasier. How can they not be making money?
NOBODY escapes Biden’s economy it’s like the plague.
The Trump Covid recovery period is over. Biden can’t take credit for it anymore, and now, he’s got to take credit for the downturn in the economy. Whatever happens from now on, it Biden’s fault, an in reality, Biden killed the economy on day one, but, thanks to Trump’s economy, we didn’t get totally destroyed; not yet.
Streaming is a failing business concept..............
How much can they save by relocating from California to The South?
Well, that sucks...
The ads on all apps, except their one Roku Channel, come from the companies that make those apps.
Roku makes the finest streaming equipment available today, and it works with everything, as it is platform agnostic. It even works with Apple equipment to cast video and audio from iPhones and iPads to your screen.
Apparently not enough....
>>>the San Jose, Calif.-based tech firm
Collapse or move.
They can start by moving out of California after the initial cost should be able to save a good bit
Roku’s business model was always going to have issues. As the apps for streaming services land on TVs, BluRay players, and cable boxes there’s less and less need for a devise that just runs apps. Sure they’ve got their own streaming service, but where’s the revenue there? They don’t have commercials. And my TV has a Roku app.
They need to figure out where the money comes from. They were a great bridge before everything that touches your TV could run the apps. But we’re on the other side of that now.
The TCL Roku tv is an outstanding product.
Yeah, it kind of is.
It is one of those concepts that sounds great until you realize there is a time limit on what you can watch. And once it is gone, it is gone. No going back and watching your favorite parts again.
People are starting to realize that and it is a big downside.
Owning media is making a comeback. And there is an uptick in owning physical media as well.
Are you kidding?
It’s great!
I've had one for 5 years, still going strong.
What do you mean time limit?
No commercials
Choose the streamers I want
Life is good
Bidenomics.
You are very correct with that comment.
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