SiriusXM Layoffs
Industry Media · Location New York City · United States · Subscribe (RSS)
SiriusXM has 2 publicly reported layoff rounds on record between March 6, 2023 and February 12, 2024. A total of about 635 employees were affected across these rounds.
Layoff history
SiriusXM cut 160 employees on February 12, 2024, about 3% of its workforce, in the company's second round of layoffs in less than a year. CEO Jennifer Witz said in a memo that becoming "more efficient, agile and flexible" was essential to sustaining subscriber growth as competition intensified. The announcement followed a difficult 2023 in which SiriusXM lost 445,000 net subscribers and reported flat Q4 revenue of $2.29 billion year-over-year. A larger reduction in March 2023 had already removed 475 employees, or about 8% of headcount. Specific severance details were not disclosed in public reporting. The cuts signaled continued pressure on the satellite-radio business to adapt as streaming alternatives eroded its subscriber base.
Reason: cost efficiency, declining subscriber base
Source: variety.com
SiriusXM disclosed a workforce reduction affecting its New York City operations in March 6, 2023. Approximately 475 roles were eliminated.
Source: variety.com
Data for SiriusXM is compiled from public WARN Act filings and reporting linked above. See our methodology.