Roku to lay off another 200 employees

March 30 (UPI) -- Roku on Thursday said it plans to fire an additional 200 employees, amounting to approximately 6% of its workforce. The company also plans to shut down or rent out several properties.

The layoffs were revealed via documents filed to the Securities and Exchange Commission.

Roku plans to spend between $30 million and $35 million during the layoffs, which are expected to be completed by June.

In November, the company laid off 200 employees, which also was revealed via an SEC filing.

Like many streaming services, Roku saw a major uptick in viewership during the height of the COVID-19 pandemic but now is facing significant drop-off.

The company faced financial peril earlier this month when Silicon Valley Bank collapsed, endangering approximately 25% of Roku's funds. Ultimately, government regulators protected the funds.

According to the filing, the company is implementing a restructuring plan "to lower the company's year-over-year operating expense growth and prioritize projects that the company believes will have a higher return on investment."