Audio giant SiriusXM will terminate the employment of 160 staffers, about two to three percent of the company. The action is occurring 10 months after a March, 2023 cutback of about eight percent.
The news was delivered, as it so often is, by internal memo.
“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 in the memo. “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.”
Earlier this month SiriusXM brought highly ranked podcast SmartLess into its fold; the show was previously with Amazon Music. In November, the company lowered subscription rates and launched a new app, seeking to target a “next generation” of listeners. On a more challenging note, SoundExchange sued SiriusXM in August, claiming underpayment of music royalties.
SiriusXM is routinely at or near the top of Top 30 Podcast Networks (U.S.) chart produced via listener survey by Edison Research.
