Read Time:38 Second
Sonos Inc. SONO said Wednesday it’s planning to cut 7% of its workforce and will scale back its real estate footprint and re-evaluate other spending. The speaker maker disclosed the news in a regulatory filing. It’s most recent 10-K filing shows it had 1,844 full-time employees as of Oct. 1, 2022. The company expects to book $11 to $14 million of restructuring charges most of it in the third quarter. The stock was up 0.3% premarket but has fallen 3.6% in the year to date, while the S&P 500 SPX has gained 11%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0
