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Market Chatter: Sonos Cuts 3% of Workforce Across Product, User Experience Teams

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Sonos (SONO) reduced its workforce by 3%, affecting employees in its user experience, product and design groups, Bloomberg reported Thursday, citing a memo to employees.

The move follows a round of layoffs in the marketing department in April, as part of an effort to reshape the division, according to the report.

Sonos CEO Tom Conrad said the changes were aimed at making the company leaner and better positioned to compete, the report added.

Sonos did not immediately respond to a request for comment by.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $13.83, Change: $-0.25, Percent Change: -1.74%

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