Sonos inc initiates a plan on june 23, to eliminate about 12% of its global headcount

Sonos inc - initiated a plan on june 23, to eliminate about 12% of its global headcount.sonos inc - closing new york retail store and six satellite offices.sonos inc - will incur about $25 to $30 million in restructuring & related impairment charges related to terminations & site closures.sonos - on june 23 board also approved 20% reduction in base salary of ceo for period from july 1, 2020 to december 31, 2020.sonos - on june 23 board also approved 20% reduction in base salary of other executive officers from july 1, 2020 through september 30, 2020.sonos inc - majority costs related to terminations & site closures expected to be incurred in q3 of fiscal 2020.sonos - all members of board of directors agreed to forgo their annual cash retainer for period from july 1, 2020 to december 31, 2020.sonos inc - of total restructuring charges expected to be incurred, about $9 to $11 million is expected to result in future cash expenditures.
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