Roku lays off 300 workers and removes streaming content to save money

Roku laying off 300 employees (10% of workforce) to cut costs
Removing streaming content, consolidating offices, reducing expenses
Goal is to significantly reduce operating expense growth
Stock price rose after layoffs announced
700 employees laid off in past year (25% of workforce)

engadget.com

Relevant topic timeline:

8/27/2023

A Bull Market Is Coming: 1 Magnificent Growth Stock to Buy Hand Over Fist Before It Soars 1,800%, According to Wall Street

Summary: Roku, the streaming platform with the largest market share in North America, is poised for significant growth as the cable TV industry continues to decline and more viewers turn to streaming video, leading to an opportunity for investors to buy the stock at its current discounted valuation.

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Roku's shares rose 3% after announcing layoffs and office space consolidation, while Tesla, Apple, and AMC Entertainment experienced declines in midday trading.

9/7/2023

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