Sonos Devices

Connected audio firm Sonos is the latest company to announced plans for layoffs as a result of the Covid-19 pandemic.

“The Company initiated a plan on June 23, 2020 to eliminate approximately 12% of its global headcount. In addition, the Company is closing its New York retail store and six satellite offices,” revealed Sonos in a regulatory filing yesterday.

The last time Sonos revealed a headcount figure, for the end of September 2019, it had 1,446 full-time employees, so the layoffs are likely to be at least 173 staff.

Sonos CEO Patrick Spence is also taking a 20% cut in his base salary (which was $550k last year) for the second half of 2020, with fellow executives at Sonos taking a 20% cut for the third quarter of this year.

Music Ally’s next Learn Live webinar will help you build the strategies for artists to thrive in new international markets!

Music Ally's Head of Insight

Leave a comment

Your email address will not be published. Required fields are marked *