SiriusXM announced this Monday that it is laying off 3% of its workforce. CEO Jennifer Witz announced in a memo to employees that the company will lay off a total of 160 people in an attempt 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. 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. 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.
SiriusXM has been having financial problems since 2023
This round of layoffs comes less than a year after the company laid off 8% of its workforce which, at that time, meant that a total of 475 employees lost their jobs.
Variety reported that the last round of layoffs had a quick effect on the company. Last fall, the company tried to win back some of its lost subscribers by unveiling a new logo and app. It also announced it would launch new channels, programs and the Steaming All Access Plan, the new cheaper subscription plan that allowed users to access the platform's content for $9.99 per month.
Along with this, the company revealed that it was introducing new DJ channel takeovers. The company invited more than 160 artists and bands to participate, including Olivia Rodrigo, Cardi B, Alice Cooper, Luke Combs and Maren Morris.