Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.95
Sonos Inc announced a restructuring with charges of approximately $9 to $12 million of restructuring and related charges affecting approximately 6% of our employees (reduction in force involving approximately 6% of our employees).
- Type
- restructuring
- Charge
- approximately $9 to $12 million of restructuring and related charges
- Affected area
- approximately 6% of our employees
- Headcount
- reduction in force involving approximately 6% of our employees
Exact text from the filing
On August 14, 2024, Sonos, Inc. (the “Company”) announced a reduction in force involving approximately 6% of our employees. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries. The Company also committed to further reducing its real estate footprint. The foregoing actions were committed to on August 14, 2024 and are intended to improve the Company’s operating model and cost structure to set the Company up for long-term success. The Company estimates that it will incur approximately $9 to $12 million of restructuring and related charges, of which $6 to $8 million are related to employee severance and benefits costs.
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