JUNE 18, 2023 — 130 EMPLOYEES GONE
The company has announced a reduction in force, impacting approximately 7% of its employees, or 130 employees.
The Company also committed to further reducing its real estate footprint and re-evaluating certain program spend. The foregoing actions reflect the Company’s commitment to rightsizing its cost base while still investing in its product roadmap to drive future growth.
Sonos CEO Patrick Spence noted, “In the face of continued headwinds we have had to make some hard choices, including eliminating some positions and reevaluating program spend.”
The company had previously cut headcount by 12% in 2020, in response to the rapidly unfolding Covid pandemic.
MAY 23, 2018 — Original post…
Sonos, Inc., the wireless device maker based in Santa Barbara, California, appears to be trimming its expenses, by laying off 96 employees, possibly in preparation for an upcoming summer IPO (Initial Public Offering). It is known that Sonos has filed a confidential IPO document with the Securities and Exchange Commission.
Sonos excuses the layoffs with the standard corporate speak via company spokesperson Laura Morarity, “Like any healthy business, we occasionally make adjustments to the size and structure of our teams to stay nimble and align resources with market opportunities. Sonos is growing and profitable.”
Sonos is facing increasing competition from companies building wireless connectivity into their products, and the public offering may represent an opportune time for investors to execute a profitable exit strategy.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?