Sonos, Inc., the wireless device market based in Santa Barbara, California appears to be trimming their 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.
Are you asking yourself, Am I Next?