In an internal memo seen by Bloomberg, CEO Tom Conrad stressed that he wants to transform Sonos into a company “that moves with more conviction and more velocity.”
- A Sonos spokesperson told Bloomberg that the cuts were unrelated to its artificial intelligence integration efforts.
- The latest cuts come after the company conducted layoffs in April in its marketing department
- As of May 31, the company had 1,840 employees working globally.
Sonos Inc. (SONO) is trimming its workforce by 3%, which will impact its user experience, product, and design teams as it pushes to operate with a leaner structure and save costs, according to a report by Bloomberg on Thursday.
A spokesperson for the company confirmed the job cuts to the news outlet while highlighting that the move will also affect senior roles. The company’s representative told Bloomberg via email that the cuts “were about removing layers and streamlining our teams so that they can execute with greater autonomy and speed.”
The spokesperson also confirmed that, while the company has been rapidly integrating artificial intelligence into its products, the cuts were unrelated to that effort.
Shares of the company were down more 1% in afternoon trading.
SONO Recently Cut Jobs In Marketing
The latest cuts come after the company conducted layoffs in April in its marketing department, an initiative spearheaded by CMO Colleen DeCourcy, who joined Sonos in November last year.
DeCourcy had then said she wanted to fix the company's underlying structure, not lower headcount, and emphasized the need for “clearer jobs and shorter distance between a decision and its outcome.”
As of May 31, the company had 1,840 employees working globally.
SONO CEO Seeks Transformation
In an internal memo seen by Bloomberg, CEO Tom Conrad stressed that he wants to transform Sonos into a company “that moves with more conviction and more velocity.”
“Fewer months in conference rooms. More prototypes in our labs. More decisions made and executed. More exceptional products in the world for our customers,” Conrad reportedly said.
What Retail Traders Think Of SONO Stock
On Stocktwits, retail sentiment toward SONO turned ‘bullish’ from ‘neutral’ over the last 24 hours.
SONO stock is down 21% so far this year, but has gained over 29% over the past 12 months.
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