Sonder, a short-term accommodation provider, is cutting 17% of its corporate workforce in hopes of achieving $11 million in annualized cost savings. This isn’t the first time the company has reduced its workforce, and it comes after a period of financial struggles and a risk of delisting from the Nasdaq. Despite these challenges, Sonder reported a 29% increase in revenue in the third quarter of 2023. The company’s upcoming financial results will be interesting to watch in light of these recent developments.
What do you think Sonder’s future looks like in light of these workforce reductions and financial struggles? How might they continue to innovate and grow in the competitive short-term accommodation market?
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