Sonos Layoffs

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Sonos, the audio technology company known for its smart speakers, announced in a filing on Tuesday that it is reducing its global workforce by 12% as a direct response to the economic uncertainty and challenges caused by the Covid-19 pandemic. Based on its reported total of 1,450 employees, this layoff affects approximately 174 people. The company is also closing its New York City retail store and six satellite offices as part of broader cost-cutting measures initiated in March, which included reducing marketing investments and managing inventory. CEO Patrick Spence stated these difficult decisions are necessary to position the company for future opportunities. Sonos estimates the restructuring will incur charges of $25 to $30 million, with executive and board compensation also being reduced during this period.

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