"Sonos Lays Off 100 Employees As Its App Crisis Continues/ The Company Is Making Cuts Despite CEO Patrick Spence's Pledge That Fixing The App Has Become Sonos' Top Priority." - The Verge
Portfolio Pulse from Benzinga Newsdesk
Sonos has laid off approximately 100 employees, primarily from its marketing division, as it continues to address issues with its mobile app redesign. The company is also closing some customer support offices, including one in Amsterdam. CEO Patrick Spence has emphasized that fixing the app is the company's top priority, even delaying two hardware launches to focus on this issue.

August 14, 2024 | 5:33 pm
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Sonos has laid off 100 employees and is closing some customer support offices to focus on fixing its problematic mobile app. CEO Patrick Spence has delayed two hardware launches to prioritize app improvements.
The layoffs and office closures indicate significant internal challenges, which could negatively impact investor sentiment. The delay in hardware launches may also affect revenue projections, contributing to a likely short-term decline in stock price.
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