MediaUS

SiriusXM Layoffs

February 2024

SiriusXM announced a layoff affecting 160 employees (3% of its workforce) in February 2024. The company operates in the Media sector.

People Affected

160

Percentage

Announced Date

Feb 12, 2024

About

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.