Sonos, facing challenges after a poorly received app update and significant stock decline, is laying off 200 employees under interim CEO Tom Conrad. This decision reflects a need to streamline operations, as Conrad noted the company is burdened by excessive layers. Despite previous assurances from former CEO Patrick Spence about no additional cuts, the overlapping leadership changes reveal a more urgent need for restructuring. The layoffs follow a troubling earnings report indicating diminished revenue and income, prompting Conrad to emphasize future commitment to resolve mismanaged projects and restore market confidence.
The layoff is a sizable slice to Sonos' headcount, which the company reported at 1,708 full-time workers as of Sept. 28.
Interim CEO Tom Conrad framed the layoffs as a difficult necessity, acknowledging that the outcome is terrible for those affected.
Conrad mentioned that Sonos is 'mired in too many layers,' affirming plans to reorganize into 'flatter, smaller, and more focused teams.'
Collection
[
|
...
]