It isn’t clear precisely what number of staff shall be laid off. In line with Sonos’ investor relations website, it presently has greater than 1,450 full-time staff, so about 175 individuals could lose their jobs.
Because the pandemic started, a number of firms have made workers cuts. Uber introduced plans to put off as many as 6,700 staff. Lyft lower one other 1,000. Airbnb shared plans to put off 25 % of its workforce, and Kickstarter will let as much as 45 % of its staff go. MagicLeap and GoPro additionally noticed cuts.
Along with the layoffs, Sonos’ board has permitted a 20 % discount within the base wage of Sonos’ CEO by the top of this yr. Different executives will see a pay lower by September 30th. All members of the board will forgo their money retainer for the rest of 2020. These modifications go into impact July 1st.