ConsumerUS

Sonos Layoffs

June 2023

Sonos announced a layoff affecting 130 employees (7% of its workforce) in June 2023. The company operates in the Consumer sector.

People Affected

130

Percentage

Announced Date

Jun 14, 2023

About

Sonos, the wireless speaker company, announced on Wednesday that it is laying off approximately 130 employees, representing about 7% of its workforce. The company, which last reported having 1,844 employees in October 2022, cited ongoing economic headwinds and a recent significant drop in revenue as reasons for the restructuring. CEO Patrick Spence stated that these challenges necessitated difficult decisions, including job cuts and a reevaluation of spending. The layoffs are part of a broader restructuring effort expected to cost between $11 million and $14 million, covering severance and real estate adjustments. This follows a previous 12% workforce reduction in 2020 during the pandemic.