Sonos lays off 7 percent of its workforce as demand for its speakers falls

In a filing with the SEC on Wednesday, Sonos shared the news that it is laying off 7 percent of its workforce. The company is also committed to further reducing its real estate footprint and re-evaluating certain program spending, Sonos said. in 8-K filing, The company reported 1,844 employees. as of last october, It’s fair to assume that Sonos has hired more people since then, but this total indicates that the cuts will affect at least 130 roles.

“We have recognized that if we begin to deviate from our performance expectations, we will continue to optimize profitability while investing in our exciting product roadmap to drive future growth,” Sonos CEO Patrick Spence said in a statement. And will take action to protect it.” “In the face of continued headwinds, we have had to make some difficult choices, including eliminating some positions and re-evaluating program spending.”

“Right now, our number one priority is providing a respectful and compassionate transition to our departing peers and is focused on providing resources to support our employees financially, psychologically and professionally as they look to what next. do,” Spence said.

Around this time, the company “estimates that it will incur restructuring and related charges of approximately $11 to $14 million, of which $9 to $11 million are related to employee severance and benefit costs.” sonos currently Operates 10 offices globally, with US locations in Santa Barbara (where it is headquartered), Boston, Seattle, and San Francisco. But the company has been a strong proponent of hiring full-time remote workers over the past few years, so some of those vacancies are likely to be closed before long.