this post was submitted on 07 Sep 2023
445 points (99.3% liked)

Technology

59123 readers
2308 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
445
Roku lays off 300 workers and removes streaming content to save money (www.engadget.com)
submitted 1 year ago by [email protected] to c/[email protected]
85 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 21 points 1 year ago (1 children)

It’s not late game investors, but short term investors.

I mean I guess it’s both, but short term investors don’t give a fuck about the fundamentals of a company, they care about growth, or at least the illusion of growth above all else.

So you end up with gigantic conglomerates that do everything. Piano makers that sell dirt bikes, movie companies that run theme parks, kettle makers that run the largest financial institutions in the world. It makes no logical sense, but that doesn’t matter…. Line goes up.

[–] [email protected] 14 points 1 year ago (2 children)

Piano makers that sell dirt bikes, movie companies that run theme parks, kettle makers that run the largest financial institutions in the world

I know that’s Yamaha and Disney, but I’m blanking on the last one. I probably know it but don’t know about the kettle side.

[–] [email protected] 3 points 1 year ago

You haven’t heard of JP Morgan Chase kettles?

[–] [email protected] 2 points 1 year ago

General electric