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Message
Roku laying off 6% of it's workforce
Posted on 3/30/23 at 12:23 pm
Posted on 3/30/23 at 12:23 pm
Roku to slash 200 jobs, amounting to 6% of workforce
This just doesn't make any sense. The president said in this press release that the "The Biden Economic Plan Is Working".
It's just crazy, guys. He said we were finally turning the corner. I'm shocked here.
quote:
The announcement matches a previous round of layoffs that slashed 200 jobs.
quote:
Roku plans to lay off another 200 workers, or 6% of its workforce, the video-streaming company said in a government filing on Thursday, just months after a prior round of layoffs in the fall that slashed 200 jobs.
The company's revenue surged during the pandemic when customers stuck indoors came to rely on at-home entertainment.
However, the return of consumer habits more closely resembling pre-pandemic life has posed a challenge for the San Jose, California-based company.
The round of layoffs, which the company described as a "restructuring plan," aims to "lower the Company's year-over-year operating expense growth and prioritize projects that the Company believes will have a higher return on investment," the government filing said.
The layoffs will cost the company between $30 and $35 million due to severance payments and other employee benefits, the filing said.
This just doesn't make any sense. The president said in this press release that the "The Biden Economic Plan Is Working".
It's just crazy, guys. He said we were finally turning the corner. I'm shocked here.
13
Posted on 3/30/23 at 12:25 pm to Giantkiller
C'mon man!
Posted on 3/30/23 at 12:26 pm to Giantkiller
People still actually work at Coinbase?
Posted on 3/30/23 at 12:26 pm to Giantkiller
(no message)
Posted on 3/30/23 at 12:27 pm to Giantkiller
Tech companies who generate very little cash through operations laying off workers when interest rates rise, this is shocking news
Posted on 3/30/23 at 12:28 pm to Giantkiller
Not a good sign.
Posted on 3/30/23 at 12:30 pm to Cocotheape
Those MFERs put an advertisement in my main menu this week.
I'm thinking of switching devices just for that shite.
I don't even mind the ads off to the side that have been there for years. But now they did shite like this
Normal Menu:
Home
Streaming Channels
LiveTv
Settings
Home
Streaming Channels
DieHarter
LiveTv
Settings
That's a fricking ad for this bullshite show.
I'm thinking of switching devices just for that shite.
I don't even mind the ads off to the side that have been there for years. But now they did shite like this
Normal Menu:
Home
Streaming Channels
LiveTv
Settings
Home
Streaming Channels
DieHarter
LiveTv
Settings
That's a fricking ad for this bullshite show.
This post was edited on 3/30/23 at 12:32 pm
Posted on 3/30/23 at 12:32 pm to Giantkiller
Is not just as likely that they've reached a point of market saturation? How many new devices do they expect to consistently sell, especially after the aforementioned run on buying them during Covid.
Posted on 3/30/23 at 12:35 pm to Giantkiller
200 employees' severance package worth $35M?
That's $175k each.
Where was that when I was laid off?
That's $175k each.
Where was that when I was laid off?
Posted on 3/30/23 at 12:35 pm to Giantkiller
Weren’t there some substantial impacts to Roku when Silicon Valley Bank failed?
Posted on 3/30/23 at 12:35 pm to Giantkiller
These tech companies grew like crazy during pandemic. These are adjustments as we return to the post covid market.
All the pundits saying covid was gonna forever change the way we live are fools.
All the pundits saying covid was gonna forever change the way we live are fools.
Posted on 3/30/23 at 12:37 pm to UKWildcats
quote:
How many new devices do they expect to consistently sell, especially after the aforementioned run on buying them during Covid.
There is a Roku channel that I assume they're focusing on
Posted on 3/30/23 at 12:48 pm to Giantkiller
This isn't the right kind of political thread, so it'll probably be moved.
I'm pretty excited for the economy to take a dive. Really need to buy a new car.
I'm pretty excited for the economy to take a dive. Really need to buy a new car.
Posted on 3/30/23 at 12:49 pm to East Coast Band
quote:
There is a Roku channel that I assume they're focusing on
It's set up similar to PlutoTV. Some decent content mixed in with just pure garbage.
Posted on 3/30/23 at 11:27 pm to mikelbr
They are not wrong for promoting their own content. Only problem I got with them is putting them apps at the bottom of the remote I nudge them by mistake and my movie/show is interrupted.
This post was edited on 3/31/23 at 12:41 am
Posted on 3/30/23 at 11:31 pm to Giantkiller
The only tech companies that are not shedding the dead weight from their workforce now are the robotaxi scams. At no point has so much been invested across multiple startups for $0.00 return.
Except for the Metaverse. That might be worse.
Except for the Metaverse. That might be worse.
Posted on 3/30/23 at 11:37 pm to Giantkiller
Smart TVs have killed Roku.
Posted on 3/30/23 at 11:43 pm to Eli Goldfinger
quote:
Smart TVs have killed Roku.
Roku is the number one operating system for smart TVs, it is around 40% off the market.
Posted on 3/30/23 at 11:44 pm to East Coast Band
quote:
200 employees' severance package worth $35M? That's $175k each. Where was that when I was laid off?
Does seem like a lot but that’s 6 months pay for someone making $350k, that’s accurate for a bunch of tech employees in California.
Posted on 3/31/23 at 4:40 am to Obtuse1
quote:
Roku is the number one operating system for smart TVs, it is around 40% off the market.
Some TV makers are putting that in TV’s while dragging their feet on ATSC 3.0 tuners that can make over the air TV easier to receive and add more features as broadcasters roll it out. New Orleans launched it in December. 6 New Orleans stations are on one TV channel using the latest compression standards, eventually adding 4K broadcasts. But unless manufacturers add new tuners, broadcasters have no incentive to stations to convert more.
The only content most stations are allowed on their own Roku or Smart TV apps is news or local originated content. Syndicated and network content is typically left to the network, unless they can use Geofencing to ensure they are in the local market area. And then there is sports, who will always have their hand out for cut of the pie or make the most restrictions since they want to push their own platforms.
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