Brief: Sonder Projects Positive Quarterly Free Cash Flow Within 2023

Sonder Holdings

09/06/2022 11:13

June 9 (Reuters) - Sonder Holdings Inc  SOND.O :
    * SONDER ANNOUNCES CASH FLOW POSITIVE PLAN AND PROJECTS
POSITIVE
QUARTERLY FREE CASH FLOW WITHIN 2023
    * SONDER HOLDINGS INC -  REDUCTION OF CASH COSTS BY
APPROXIMATELY
$85M ON AN ANNUALIZED BASIS
    * SONDER HOLDINGS INC -  REAFFIRMS Q2 2022 AND FY 2022
REVENUE
GUIDANCE, WILL NOW PROVIDE FREE CASH FLOW OUTLOOK
    * SONDER HOLDINGS INC -  CASH FLOW POSITIVE PLAN INCLUDING
REDUCTION IN FORCE AFFECTING APPROXIMATELY 21% OF CORPORATE
ROLES AND 7% OF FRONT LINE ROLES
    * SONDER HOLDINGS INC - EXPECTS REDUCTION IN FORCE TO BE
SUBSTANTIALLY COMPLETED BY END OF Q2 OF 2022
    * SONDER HOLDINGS INC - TOTAL COSTS AND CASH EXPENDITURES
FOR
REDUCTION IN FORCE ARE ESTIMATED AT $3.5 MILLION TO $5.5 MILLION
    * SONDER HOLDINGS INC - EXPECTS TO RECOGNIZE MOST OF PRE-TAX
REDUCTION IN FORCE CHARGES IN Q2 OF 2022
    * SONDER HOLDINGS -  ABOUT 80% OF ONE-TIME RESTRUCTURING
COSTS ARE
EXPECTED TO BE PAID OUT IN Q2 2022, ABOUT 20% EXPECTED TO BE
PAID OUT IN 2H 2022

Source text for Eikon: [https://bit.ly/3tlbQcD]
Further company coverage:  SOND.O 

 ((Reuters.Briefs@thomsonreuters.com;))