Roku Soars on Plans to Cut 10% of Staff, Consolidate Offices (1)

Roku Inc., the maker of set-top boxes and TV software consumers use to watch Netflix Inc. and other streaming services, jumped after announcing plans to cut about 300 workers or 10% of its workforce, consolidate office space and reduce its content portfolio.

The San Jose, California-based company will also limit new hires as part of an effort to slow its growth in operating expenses, it said in a filing Wednesday. Roku expects to record charges of $45 million to $65 million tied to the job cuts, $160 million to $200 million from ceasing the use of office facilities and ...