Sonos Inc.'s stock soared 5.05% in the pre-market session on Thursday, as the company's announced plans to reduce its workforce and cut costs fueled investor optimism.
The maker of premium wireless speakers and audio products revealed intentions to trim its workforce by approximately 12% under the leadership of newly appointed interim CEO Tom Conrad. This strategic move aims to streamline operations and improve overall cost efficiency.
Investors have responded positively to Sonos' swift actions in addressing its financial challenges. The pre-market surge suggests that the market views the workforce reduction and cost-cutting measures as a step in the right direction for the company's long-term prospects.
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