Short-term rental specialist Sonder will be implementing $50 million in annualized cost reductions ahead of its planned integration with Marriott.The reduction is one of several actions Sonder is taking to “strengthen its balance sheet and generate significant cost savings,” the company said in a release. Cost reductions will come from "a combination of headcount reductions, software savings and other efficiencies in conjunction with the Marriott integration,” Sonder said. The company previously cut its corporate workforce by 17% in February 2024, eliminating approximately 106 roles.Sonder also announced it sold off $18 million shares of its Series A preferred stock on April 11 and amended its note and warrant purchase agreement, reducing outstanding principal balance by 15% and slashing the interest by 50%."These events are expected to bring us closer to completing our transformation. The integration with Marriott is expected to enhance the positive RevPAR [revenue per available room] and profitability trends that our portfolio has already experienced over the last several months,” said Francis Davidson, co-founder and CEO of Sonder

Sonder, a workplace wellbeing platform, has secured a $40 million investment from Blackbird Ventures, Seek, and Hostplus. The Sydney-based company plans to use the funds to expand internationally. Sonder reports a 40% annual growth rate and has reached a milestone of one million app members. The app offers employee wellbeing services, including personal safety, medical, and mental health support.