Thread regarding Bose layoffs

Any update?

All the social/marketing glitz in the world, over the past years, does not overcome a lack of head-to-head competitive products continuously delivered on-time and operating within a realistic and competitive balance sheet? It seems we wandered from focusing on the "hard stuff" - product development, delivery, and life cycle enhancements are hard, very hard - to the funding and breathing the easy stuff, which doesn't deliver the needed bottom-line results, with some living in an echo chamber for way too long?

Existential threats abound...
Nowhere to run?
Nowhere to hide?

• so sad, with so many working so hard, for so long, to not to have this ending :(

This years products really don’t seem like they will be a good bunch, it’s all meh. The earbuds are late for the party. The gaming headset is a joke, and the sound bars are all budget. I really think targeting those low end customers is a mistake. Eco 2 is stuck with not multi room audio solutions and nothing is forthcoming. Man we really know how to stick it to people with product lines that are half assed.

Bose usually does not announce how many people will be laid off or already laid off.
People usually get the number by asking someone else or guessing.
How many people accepted the early retirement 5 years ago? How many people in Westborough lost jobs? How many were let go after closing Bose Ride? How many were laid off in 2019? There is no official number. Public traded companies are required by SEC to disclose such info, but Bose is privately held. Many or most people are working from home now. So the company can lay off some people quietly by email or conference call. Several companies did right that, why not Bose?

Of course there are no numbers being reported. Not sure why the company cant just tell us how many so far and when he ax will fall for CED. Makes for some unproductive times

Does anyone know the total number of layoffs that have already been declared?

Any idea when layoffs will hit CED?

How many got the ax in health? That's so messed up, I recall seeing the excitement of moving into Boston Landing and then this!

I left Bose last year after a long and wonderful tenure there. I really feel bad for the direction it has been heading for a while. I agree that starts with CEO’s constant changes and some TERRIBLE changes in leadership that he brought. At the same time giving “blank check” to CIS and Health to the tune of >>$100m for nothing. Restructuring needed and significant downsizing of Sales, CIS, and R&D. Fortunately they have a decent chunk of change in the bank.

What amazes me is how competitors are able to still keep their employees and still able to sustain the business. The same problem is for them and actually they have bigger problem of being public with pressure from the share holders.

I hope they are able to sustain this unprecedented times and come back more stronger and together. I hope leadership steer the wheel in correct direction without effecting much of people. At least they started doing the correct things in some ways.

Health business seems like a good investment and a new domain which is worth to explore for a business. I believe they can make a lot of money out of the product which actually works and has longevity. If they can embark that space it would be a head start among other businesses or competitors. Since most of the consumer electronic companies are only focused only on the software part just like apple. If they can deliver an actual comforting product I believe it would be a huge.

Not everything goes as planned but this time I hope it does.

"Asking for a friend" - any thoughts of how the Bose Health Division is at all material to the Bose financial future in a positive and immediate way? What products of any positive bottom line have been created, after how many years? With one of two products forced to premature end-of-life due to quality issues (sleep buds). It seems nothing really coming anytime soon of any importance. Lots of promises, no performance. Seems an area of very high spend and cost that would be easy for Bose to let go of? Folks there should be very busy looking for the next gig, if not doing so already?

So to other Bose long-timers - can anyone else recall this level of an existential threat to Bose? Prior to the pandemic with the poor FY results? And now further exacerbated by the pandemic? (I can't and I don't think it is rose-colored glasses syndrome on the Bose past.)

Anyone else worried about the future of their Bose retirement plan? Concerns about plan changes, funding levels, and payout amount - when we want to tap it in the future?

What amazes me is how much we have gone away from our heritage. We could of been this amazing brand that develops mind blowing products that really wow people. Remember the VideoWave, stero products, even some of the new products like HS500 are gorgeous, LS 650/600 great premium products. It's so disappointing that we are trying to get into this low end garbage, but hey when you sell at WalMart what do you expect!

Looks like the furloughs of 3 weeks ago will be turning into full-fledged layoffs?

I heard today that the company has told employees there will not be bonuses or merit raises paid out in 2020.

RIP Bose. They had a good run but lacked adaptation to market changes. Great products, little to no marketing and lots of throwing money at problems without a long term strategy. Best of luck to colleagues that are still there.

I think stores will reopen as I think they are throwing money at the stores (you know because when your stores make money you said pay money to close them early) especially for stores that got renovated in 2018. They have to follow the contract and wrap these leases up, yet again a brilliant move. I think the next stop is eliminating direct Bose.xx sales as direct online makes even less then retail, has no loyalty program and just is meh compared to Best Buy Amazon

I think stores will reopen as I think they are throwing money at the stores (you know because when your stores make money you said pay money to close them early) especially for stores that got renovated in 2018. They have to follow the contract and wrap these leases up, yet again a brilliant move. I think the next stop is eliminating direct Bose.xx sales as direct online makes even less then retail, has no loyalty program and just is meh compared to Best Buy Amazon

Retail store closing happened in early January 2020 and were not caused by the pandemic.
No reason and no chance to re-open the retail stores. No new Wifi speaker this year. A couple of
home TV speakers, maybe. Bose Automotive audio is nothing you can buy and install. It is designed for car manufactures. Car sales are significantly down due to the pandemic. So even the automotive division is not immune from the recession. So future is bleak.

Outside of the automotive division, I will be shocked if Bose survives another 2 years. A lot of good people there, but they have struggled to adapt over the last decade. Sales were down in a good economy and with a pending recession this is only going to get a loss worse.

It’s gonna be bad, a terrible holiday season, bad first 1/2 of 2020. Nothing amazing launching this year, retail stores closing and the resellers won’t be jumping up and down for the new ear buds 500.

Boston Globe had the story a couple of days ago. Someone passed them the memo. Anyone else think this just accelerates the planned store closures over 2020 - that is, stores will never reopen from this event?