SiriusXM is laying off around 160 staffers, equivalent to less than 3 percent of the company’s workforce, in an effort to gain greater efficiency in operations.
CEO Jennifer Witz announced the job cuts in a memo to staffers on Monday, obtained by TheWrap, saying this will allow the company to become “more efficient, agile and flexible.”
“To continue on our path to future subscriber growth and sustain our company’s success as the competitive landscape evolves, it’s imperative that we become even more efficient, agile and flexible,” Witz wrote. “Therefore, today we are making several organizational changes, including the difficult decision to eliminate certain roles, which will allow us to move faster and collaborate more effectively in support of our long-term objectives.”
Witz noted that the company has made “significant progress on the transformation,” of the business in 2023, however, “we have just begun to scratch the surface of what is possible here at SiriusXM,” the CEO continued.
“From uniting teams and better aligning initiatives, to investing in new technologies that will power our transformation, we are focused on increasing efficiencies and redeploying resources to support the strategic priorities of our business,” Witz concluded.
As of Dec. 31, 2023, SiriusXM reported a staff of 5,680 full-time and part-time employees.
SiriusXM cut 475 jobs, equivalent to 8% of its workforce in March 2023, in a layoff effort that impacted “ “nearly every department across SiriusXM,” according to Witz.
Just last month, SiriusXM scored an exclusive deal with SmartLess Media, reportedly worth more than $100 million. Founders Will Arnett, Jason Bateman, and Sean Hayes will be moving over from an existing partnership with Amazon.
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