Sennheiser presents 2019 results and announces job cuts

Sennheiser presents 2019 results and announces job cuts

The Sennheiser Group has presented its financial results for the fiscal year 2019.

The family-owned company generated turnover of €756.7 million; earnings before interest and taxes (EBIT) of €18.5 million were slightly down compared to the previous year.

For the 2020 fiscal year, however, the audio specialist expects a significant decline in turnover and earnings and announces that it will cut around 650 jobs by the end of 2022, about 300 of them in Germany.  The reasons for the decline are the accelerated dynamics of the headphone market and the long-term effects of the COVID-19 crisis in the consumer and professional business. […]