Sonder Holdings Inc.: restructuring charge — Sonder cuts 106 corporate roles (17% of workforce) to save ~$11M annually

Sonder Holdings Inc.

Reduction in force affects approx. 106 corporate roles, or 17% of corporate workforce.
Expected annualized cost savings of ~$11 million from the cuts.
Total severance and benefits costs estimated at $2M to $3M, mostly in Q1 2024.
Reduction substantially complete by end of Q1 2024.

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

Sonder Holdings Inc. announced a restructuring with charges of $2 million to $3 million (approximately 106 corporate roles, or 17% of the corporate workforce).

Type: restructuring
Charge: $2 million to $3 million
Headcount: approximately 106 corporate roles, or 17% of the corporate workforce

Exact text from the filing

the reduction in force to be substantially complete by the end of the first quarter of 2024. Total costs and cash expenditures for the reduction in force are estimated at $2 million to $3 million, substantially all of which are related to employee severance and benefits costs and will be recognized in the first quarter of 2024. The Company expects to pay the

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Source: SEC EDGAR

accession 0001819395-24-000007

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