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Sonos Triggers 7% Layoff While Reducing Real Estate Holdings

Sonos Triggers 7% Layoff While Reducing Real Estate Holdings

Sonos has introduced a 7% discount in its workforce within the newest layoff spherical to hit a tech firm.

Sonos says it is usually committing to additional decreasing its actual property footprint and re-evaluating its program spending. The layoffs and choices relating to who’s impacted are topic to native legal guidelines and session necessities. Sonos says it’s dedicated to right-sizing its value foundation whereas nonetheless investing in its product roadmap to assist drive future development.

Sonos estimates that it’ll incur anyplace from $11M to $14M in restructuring prices and associated fees. Round $9M to $11M of that will likely be associated to worker severance and advantages. Most of those prices will likely be incurred throughout the third fiscal quarter, as revealed by the corporate’s SEC submitting.

The 7% of workforce impacted interprets to about 130 staff. “Within the face of continued headwinds, we have now needed to make some laborious decisions, together with eliminating some positions and re-evaluating program spend,” Sonos CEO Patrick Spence instructed staff. Sonos employed round 1,844 folks in October 2022. It beforehand minimize its headcount by 12% in 2020 in response to the COVID-19 pandemic.

Sonos efficiently litigated a patent infringement swimsuit towards Google, profitable $32.5 million in its good speaker patent battle. That authorized battle began in 2020 when Sonos accused Google of copying its expertise after a partnership between the 2 corporations was established in 2013. On account of that case, Google was required to vary how some options work by itself lineup of Nest good audio system and shows.

“This can be a slender dispute about some very particular options that aren’t generally used,” a Google spokesperson Peter Schottenfels mentioned in an announcement about that verdict. “Of the six patents Sonos initially asserted, just one was discovered to be infringed, and the remaining had been dismissed as invalid or not infringed. Now we have all the time developed on the advantage of our concepts. We’re contemplating our subsequent steps.”

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