Sonos lays off 7 percent of employees as demand cools for its speakers
In a filing with the SEC on Wednesday, Sonos shared news that it’s laying off 7 percent of its staff. The company is “also committed to further reducing its real estate footprint and re-evaluating certain program spend,” Sonos said in the 8-K filing. The company reported having 1,844 employees as of last October. It’s reasonable to assume Sonos has hired more people since then, but that total indicates the cuts would affect at least 130 roles.
“We have acknowledged that if we started to deviate from our performance expectations, we would take action to adapt and protect profitability while still investing in our exciting product roadmap to drive future growth,” Sonos CEO Patrick Spence said in a statement. “In the face of continued...