Sonos Is Laying Off More People as It Prepares to IPO

After firing a significant number employees once again, Sonos hopes that an IPO will turn things around.

Ahead the company’s rumored IPO in June, wireless speaker manufacturer Sonos has laid f 96 employees – 6% its entire workforce – to boost pritability.  According to sources speaking to Bloomberg, the company has filed confidentially for an IPO and has targeted a market value $2.5 billion to $3 billion.  Sonos had employed around 1,500 employees.

In a statement, Sonos confirmed the news.

This marks the second time in 2 years that the wireless speaker manufacturer lays f a significant number employees.

More as this develops…

 


Featured image in the Public Domain


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