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Roku is cutting about 10% of its workforce, or 360 people, and it will limit new hiring as it cuts costs to stem a series of quarterly losses Roku is cutting about 10% of its workforce, or 360 people, and it will limit new hiring as it cuts costs to stem a series of quarterly losses. The streaming platform also said in a regulatory filing Wednesday that it expects adjusted third- quarter revenue of between $835 million and $875 million, which is much better than the $828.6 million that Wall Street was projecting, according to analysts polled by FactSet. Shares, which have already doubled since the start of the year, rose another 6% in midday trading. Roku Inc. anticipates a restructuring charge of $45 million to $65 million related to the job cuts. The charge will mostly include severance and benefits costs, with the majority of the charge expected to occur in its fiscal third quarter . The Silicon Valley company also expects impairment charge of $160 million to $200 million in its th...

Spotify is cutting about 200 people, or 2% of its workforce, as the streaming company reworks its podcast unit Spotify is cutting about 200 people, or 2% of its workforce, as the streaming company reworks its podcast unit. Sahar Elhabashi, vice president, Head of Podcast Business , said in a memo that impacted employees would receive severance packages including extended Health care coverage and immediate access to outplacement support. In January Spotify announced that it was cutting 6% of its global workforce , or about 600 jobs. Elhabashi also said Monday that the Stockholm company would be combining podcast networks Parcast and Gimlet into its Spotify Studios operation. “With these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetization and audience growth for creators, and a valuable, high-margin Business for Spotify,” Elhabashi said. In afternoon trading, shares rose nearly 3% and brief...