Sonder Holdings (SOND) has released an update.
Sonder Holdings Inc. has announced a significant workforce reduction, cutting 17% of its corporate employees to achieve an estimated $11 million in annual savings. This move, which affected around 106 staff members, is set to be completed by the end of the first quarter of 2024, incurring costs of $2 to $3 million mainly for severance and benefits. These expenses are expected to be paid out predominantly within the same quarter. The company’s forward-looking statements regarding these plans are not guaranteed and are subject to various factors that could lead to different outcomes.
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