The digital media company Roku plans to cut an additional 200 jobs after having laid off 200 employees in the fall.
The company said in a filing to the Securities and Exchange Commission on Thursday that it will cut about 6 percent of its workforce as part of a “restructuring plan.” The filing states that Roku believes the plan will reduce its yearly operating expenses and prioritize projects that will have “a higher return on investment.”
The plan will cost the company $30 to $35 million, largely through severance payments, notice pay, employee benefit contributions and related costs and charges connected to the company ending its use of offices it does not currently occupy.
The filing states that Roku expects most of the charges will be taken on in the first quarter of fiscal 2023, and the layoffs will be “substantially” completed by the end of the second quarter of the fiscal year.
ABC News reported that Roku previously laid off 200 workers in the fall.
Many Big Tech companies have experienced extensive layoffs in recent months amid rising costs, including Amazon, Meta and Twitter.