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Published on February 13, 2024

SiriusXM's Lays Off 3% of Staff, Impacting 170 Jobs

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laceykaelani

Lacey Kaelani

@laceykaelani

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SiriusXM, the satellite audio giant, is undergoing a workforce reduction of approximately 3%, CEO Jennifer Witz announced in a recent memo, citing the need to enhance efficiency and adaptability in a rapidly evolving landscape.

Witz highlighted the company's ongoing transformation efforts, including a revamped app and strategic podcast initiatives, as integral to future growth. The decision to streamline operations, albeit a challenging one, aims to facilitate quicker decision-making and foster stronger collaboration in pursuit of long-term objectives.

Notably, SiriusXM recently inked a lucrative deal with SmartLess Media, securing rights to the popular podcast hosted by Will Arnett, Jason Bateman, and Sean Hayes. This move underscores the company's strategic shift towards capitalizing on the burgeoning podcast market, complementing its traditional vehicle-based subscription model.

With Liberty Media holding a significant stake in SiriusXM, the proposed merger between the two entities signifies further consolidation within the media industry, potentially shaping the company's trajectory in the coming years. As SiriusXM navigates these changes, the broader implications for its workforce and competitive positioning remain subjects of keen interest and scrutiny.