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Patrick Spence, president and main enforcement serviceman of Sonos Inc., speaks during a Bloomberg Technology Television interrogation successful San Francisco, California, U.S., connected Monday, Feb. 11, 2019.
David Paul Morris | Bloomberg | Getty Images
Wireless talker company Sonos said it would laic disconnected astir 7% of its workforce, oregon astir 130 employees, successful a Wednesday filing.
Shares were comparatively level successful premarket trading.
"In the look of continued headwinds we person had to marque immoderate hard choices, including eliminating immoderate positions and reevaluating programme spend," Sonos CEO Patrick Spence said.
The institution employed 1,844 radical arsenic of October 2022, erstwhile Sonos past disclosed its headcount. The institution expects to incur $11 cardinal to $14 cardinal successful restructuring costs, which see the outgo of severance but besides expenses associated with streamlining its existent property portfolio and expenses.
The institution chopped its guidance successful its astir caller earnings report for the play ending connected April 1, 2023. Quarterly gross nett was besides down compared to the year-ago period, from $179 cardinal to $131 million. Revenue decreased 23.9% year-over-year, to $304.2 million.
The institution had antecedently cut headcount by 12% successful 2020, successful effect to the rapidly unfolding Covid pandemic.
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