![]() Tough macroeconomic conditions and increasing competition from Apple, Google, and Amazon are two of the big challenges Sonos faces. Sonos has ~1,844 employees so the 7% cut will lay off roughly 130 staff. Sonos estimates that it will spend between $11 and 14 million to make the above changes with $9 to 11 million of that needed to pay employee severance and benefits. The foregoing actions were committed to on Jand reflect the Company’s commitment to rightsize its cost base while still investing in its product roadmap to drive future growth. The Company also committed to further reducing its real estate footprint and re-evaluating certain program spend. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries. (the “Company”) announced a reduction in force involving approximately 7% of our employees. In its effort to “rightsize its cost base while still investing in its product roadmap,” Sonos goes on to say that it will reduce its real estate footprint and also be “re-evaluating certain program spend.” Spotted by Seeking Alpha, Sonos filed the 8-K report yesterday with the first major change noted in the cost-cutting measures being layoffs. Unfortunately one of those is letting go of roughly 7% of its employees while another measure is slimming down its real estate footprint. ![]() ![]() In a new filing with the SEC, Sonos has announced changes it’s making to cut costs.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |