this post was submitted on 07 Sep 2023
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402
Roku lays off 300 workers and removes streaming content to save money (www.engadget.com)
submitted 1 year ago by DannyMac@lemmy.world to c/technology@lemmy.world
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Roku looks to be seriously tightening its pursestrings. The company’s laying off a full ten percent of its workforce, over 300 employees, in addition to a conducting a number of other cost-cutting measures, as reported by Variety. These job cuts are just the beginning, as Roku’s also removing streaming content, consolidating office space and reducing outside service expenses. The goal here is a major reduction in the year-over-year operating expense growth rate.

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[–] zerkrazus@lemmy.world 164 points 1 year ago (3 children)

I know an even better way for them to save money. Anthony Wood, the CEO, gets like $20,990,000 in total yearly compensation. Like most these fucks most of it is non-salary, so they don't pay taxes on it right away if at all.

[–] Potatos_are_not_friends@lemmy.world 16 points 1 year ago (1 children)

If you slice his compensation in half, that's about 100 employees he can pay at $100k for a full year.

[–] BottleOfAlkahest@lemmy.world 10 points 1 year ago (1 children)

So employees cost more than just their salaries (if they get things like benefits, 401K match, etc.) So you'd have to cut more than half of his total compensation, which I don't think either of us would be mad about

[–] HeyJoe@lemmy.world 8 points 1 year ago

I also doubt most of those employees made 100k either so it's probably still a good estimate.

[–] downpunxx@kbin.social 11 points 1 year ago

[$10,000 monthly budget on candles.] Help my family is dying, someone help me please. ~ dril

[–] SocialMediaRefugee@lemmy.world 4 points 1 year ago

Wow. That is insane. You better be god's gift to business brilliance to justify that.