Short-term accommodation provider Sonder Holdings is laying
off about 106 corporate employees, about 17 percent of its corporate workforce,
the company disclosed in a Tuesday filing with the U.S. Securities and Exchange
Commission.
Sonder expects the layoffs to be “substantially
complete” by the end of the first quarter and “lead to approximately
$11 million in annualized cost savings,” according to the filing.
The move comes nearly a year after Sonder conducted another
round of layoffs of about 100 employees, which at the time represented
about 14 percent of its corporate workforce. The company also laid off
employees in 2022 as part of a restructuring designed
to increase its cash flow.
More recently, Sonder last fall indicated that it was revising
its pricing strategy, eschewing using advance discounts to boost occupancy
and instead focusing on maximizing revenue.
