Sonos Inc (SONO): restructuring charge — Sonos to cut 7% of workforce; expects $11-14M in restructuring charges

Sonos Inc

Reduction in force of ~7% of employees, committed on June 13, 2023.
Real estate footprint reduction and re-evaluation of certain program spend.
Estimated restructuring charges of $11-14M, with $9-11M for severance and benefits.
Substantially all charges expected in Q3 of fiscal 2023.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Sonos Inc announced a restructuring with charges of approximately $11 to $14 million (approximately 7% of our employees).

Type: restructuring
Charge: approximately $11 to $14 million
Headcount: approximately 7% of our employees

Exact text from the filing

The Company estimates that it will incur approximately $11 to $14 million of restructuring and related charges, of which $9 to $11 million is related to employee severance and benefits costs.

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2 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Sonos Inc filing history →

Source: SEC EDGAR

accession 0000950170-23-027856

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