Sonos Inc. SONO announced Wednesday that it plans to reduce its workforce by 7%, scale back on its real estate footprint, and review other expenditures. The speaker manufacturer revealed the news via a regulatory filing. The company’s latest 10-K shows that it had 1,844 employees full-time as of October 1, 2022. The company is expecting to incur restructuring charges of between $11 and $14 million, most of which will be in the third quarter. The stock rose 0.3% in premarket, but it has dropped 3.6% year-to-date. Meanwhile, the S&P 500 SPX is up 11%.