AM I NEXT? NO LOVE AT ROKU (09/16/23)

SEPTEMBER 16, 2023 — 10% REDUCTION IN FORCE

According to an SEC filing… “In light of Roku, Inc.’s continuing evaluation of its operations, on September 5, 2023, the Company determined to implement additional measures to continue to bring down its year-over-year operating expense growth rate by consolidating its office space utilization, performing a strategic review of its content portfolio, reducing outside services expenses, and slowing its year-over-year headcount expense growth rate through a workforce reduction and limiting new hires, among other measures. The workforce reduction is expected to impact approximately 10% of the Company’s employees. charge will be incurred in the

More than 300 employees are targeted for layoff.

NOVEMBER 30, 2022 — Original post…

San Jose, California-based Roku, a manufacturer of digital media player hardware to access streaming media content from online services, has announced a cost-cutting initiative leading to a reduction in force.

Approximately 200 employees, including 93 employees in San Jose, California will be impacted.

According to a company statement, "Taking these actions now will allow us to focus our investments on key strategic priorities to drive future growth and enhance our leadership position.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT VERBIT

Palo Alto, California-based Verbit, a technology vendor transforming video and audio content into text documents in real-time using artifical intelligent learning algorithms, has announced a reduction in force in the United States and Irael.

The reduction in force, an estimated ten percent of Verbit's workforce, impacs 110 employees, 80 employees in the United States and 30 employees in Israel.

The decision was driven by the need to accelerate the venture capital-driven company's profitability.

According to Verbit founder and CEO, Tom Livnea, “We need to act and prepare ourselves to be in the best position to continue to grow and prosper. Verbit will be restructuring the company into business divisions, allowing it to reduce redundant positions created due to the company’s acquisitions and put it in a position to continue its growth with additional acquisitions."

“We have experienced a period of hypergrowth, increasing our workforce fivefold over a period of 18 months during which we acquired six companies. Our success, which includes the doubling of our client base, including strategic clients in the different industries we serve, was achieved in different market conditions, and now we need to navigate the company and ensure that we are in the best position to lead it to prosperity and continued success, while we balance between growth and profitability.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? IS THE HANDWRITING ON THE WALL AT FORBES

WARNING

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WARNING 〰️

Jersey City, New Jersey-based Forbes Magazine, an iconic financial publication covering finance, technology, communications, science, politics, and law., appears to be close to acquisition by Magnum Opus Acquisition Limited, which is "controlled by the Chinese Communist Party,"

An April 8 proxy statement filed by Magnum Opus, the acquisition company, says that if the deal proceeds, Forbes "could be subject to oversight and discretion of [Chinese] governmental authorities, which could seek to intervene or influence its business operations at any time that the government deems appropriate to further their regulatory, political, and societal goals.”

This normally portends a replacement of top executives, senior staff, and trusted personnel with Chinese nationals or Chinese-Americans with loyalties to the Chinese Communist Party.

There is little or no doubt that the credibility of the publication will be affected by censorship and selective editing. Finances would not be a problem given the deep pockets of the CCP.

Forewarned is forearmed.