Roku stock jumps after company says it will lay off 10% of workforce
Publishing timestamp: 2023-09-06 16:18:35
Summary
Roku is laying off 10% of its workforce, or about 360 people, as part of cost-cutting measures. The company has raised its guidance for third-quarter revenue and EBITDA. This is the third round of layoffs for Roku in the past year. The company aims to reduce expenses and pivot towards profitability.
Sentiment: NEGATIVE
Keywords: personnel, earnings, labor economy, business news, factset research systems inc, breaking news: business, technology, roku inc, breaking news: technology, layoffs, media,
Source: https://www.cnbc.com/2023/09/06/roku-to-lay-off-10percent-of-workforce-stock-jumps.html