The tech sector cut-count keeps rising as Roku Inc (NASDAQ:ROKU) is set for next round of layoffs, with reports claiming 200 jobs will be lost.
It equates to around 6% of the workforce for the US streaming device maker.
Roku is also expected to exit some of its office leases and will look to sub-lease unused space.
It’s the latest axing at Roku, follow a 200 job cut in November though it pales compared to the tens of thousands of roles sutured at the likes of Meta, Google and Amazon.
Altogether it is estimated that some 63,000 jobs have thus far been culled from the tech sector in 2023.
The restructuring is expected to cost Roku between US$30 million and US$35 million, with the majority of charges incurred in the first quarter of fiscal 2023.
The job cuts are scheduled to be completed by the end of the second quarter.
Earlier in March, Roku told investors it held around US$487 million, about 26% of its cash, in deposits with SVB Financial Group though the tightening of its purse strings predates the recent banking crisis.