SiriusXM

SiriusXM is laying off approximately 160 employees, which represents just under 3% of its total workforce. The cuts, announced by CEO Jennifer Witz in a memo to staff on February 12, 2024, are part of an effort to increase efficiency, agility, and flexibility amid a competitive audio streaming and satellite radio landscape. This follows a larger round of 475 layoffs in March 2023. The company, which reported flat revenue in Q4 2023 and saw a net loss of self-pay subscribers for the full year, is restructuring to redeploy resources toward strategic priorities and future subscriber growth, following recent initiatives like a new app and pricing plans.

SiriusXM, the satellite radio and audio streaming company, laid off 475 employees, representing 8% of its workforce, in March 2023. CEO Jennifer Witz announced the cuts as part of a wide-ranging restructuring, citing economic uncertainty and a need to operate with greater agility and efficiency to maintain sustainable profitability. The layoffs affected nearly every department and followed a period of expansion through acquisitions like Pandora and Stitcher. This move positioned SiriusXM among other media companies reducing headcount amid challenging economic conditions.