Struggling sales and a falling share value are to blame.
It has been a tough year, to say the least, for employees in the tech industry and the American speaker manufacturer, Sonos, is now the latest to reduce its workforce. In total, nearly 130 people are being forced to leave their jobs as Sonos cuts back, hoping to reduce the number of office buildings in the coming months.
The company’s CEO Patrick Spence commented on the cuts in a statement (thanks, The Verge) and had the following to say:
“We have acknowledged that if we started to deviate from our performance expectations, we would take action to adapt and protect profitability while still investing in our exciting product roadmap to drive future growth”.
