Sonos Announces Plans to Cut Workforce by 7% 
<p><a href='https://financialmodelingprep.com/financial-summary/SONO'>Sonos (NASDAQ:SONO)</a> intends to reduce its workforce by approximately 7%, as revealed in a filing with the U.S. Securities and Exchange Commission. The company also plans to downsize its real estate and review its expenditure.</p>
<p>Sonos stated that these actions are part of its commitment to optimizing costs while continuing to invest in its product roadmap for future growth.</p>
<p>The company anticipates incurring restructuring and related charges amounting to around $11 to $14 million, with $9 to $11 million designated for employee severance and benefits costs.</p>
<p>Last month, Sonos announced its Q2 results and revised its full-year guidance to a range of $1.625 billion to $1.675 billion, down from $1.7 billion to $1.8 billion in fiscal 2022. This adjustment reflects a decline of 7% to 4% and is attributed to weakened consumer demand and tightening inventory among channel partners.</p>

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