Streaming platform, Roku Inc has disclosed that it will lay off 6% of its workforce, or 200 employees, in its second round of layoffs, the U.S.
In order to cut costs, the company decided to exit and sub-lease office space that it did not currently occupy.
Roku cut 200 jobs in November in the United States, where companies led by technology behemoths such as Meta Platforms and Amazon Inc are bracing for a potential economic downturn due to rising borrowing costs globally.
Roku, which had approximately 3,600 full-time employees as of December 31, expects to incur restructuring charges of $30 million to $35 million.
According to the company, the majority of the restructuring charges will be incurred in the first quarter of fiscal 2023, with the job cuts completed by the end of the second quarter.
Earlier this month, Roku disclosed that it had $487 million in deposits with SVB Financial Group, which was closed down by California banking regulators.