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Sonos is laying off 12% of its workforce and implementing cost-cutting measures, including CEO and executive pay cuts, due to the pandemic. The company will also close its Manhattan retail stores and smaller offices. Meanwhile, Olympus is exiting the camera business after 84 years to focus on medical devices, selling its camera division to a private equity firm. The shift is due to declining camera demand as smartphones become more prevalent. Olympus will now concentrate on medical imaging devices like endoscopes. News headlines are available for streaming.

What percentage of its workforce is Sonos planning to lay off?

• 10%

• 12%

• 15%

• 20%

What action is Sonos taking to reduce expenses during the pandemic?

• Increasing product prices

• Expanding into new markets

• Closing some retail stores and offices

• Hiring more employees

Why is Olympus exiting the camera business?

• To focus on smartphones

• To concentrate on medical devices

• To expand into the automotive industry

• To develop new camera technologies

Who is Olympus planning to sell its camera division to?

• A government agency

• A technology startup

• A rival camera company

• A private equity firm

What will Olympus focus on after exiting the camera business?

• Medical imaging devices

• Automotive parts

• Home appliances

• Smartphones