Roku is firing about 200 employees, about 6 per cent of its workforce, as the streaming company becomes the latest victim of the global tech crash.
Roku is a key streaming partner for Telstra in Australia.
Roku said it will also restructure, to “prioritise projects the company believes will have a higher return on investment,” it said in a regulatory filing overnight.
The severance payments will see the company hit with a one-time cost of between A$45 million – $52 million, and the majority of job cuts will be done by the end of the calendar year.
Shares of Roku fell 1.1 per cent after the filing.
