![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account There has been little sign of progress between the two sides since the strikes started. ![]() SAG-AFTRA, which represents about 160,000 actors, joined the writers on strike on July 14. The Writers Guild of America, which represents more than 11,000 writers working on movies and shows for the nation’s leading studios and streaming services, has been on strike since May 2. In a recent letter to shareholders, Roku executives expressed worry over an economic environment that “continues to create uncertainty” and warned that the writers and actors strikes in the US would hurt media and entertainment spending. The company’s new third quarter forecast anticipates revenues between $835 million and $875 million (excluding the restructuring charge), up from previous estimates of $815 million. The company expects to incur restructuring charges of $45 million to $65 million.īut even as it eliminates the positions of hundreds of workers, Roku said it would bring in more money than it previously expected. The company cut 200 jobs in both March 2023 and in November 2022, respectively. ![]() This is Roku’s third round of layoffs in under a year. Shares of Roku ( ROKU) surged more than 10% on the news. Roku said that in addition to the layoffs, it would slow its pace of hiring, consolidate office space, reduce its outside services and perform “a strategic review of its content portfolio” to save money, in a regulatory filing with the Securities and Exchange Commission. Roku stock soared higher on Wednesday after the streaming service announced it would lay off 10% of its workforce – about 300 people – in an effort to cut costs.
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