FEBRUARY 12, 2023 — 160 EMPLOYEES
The company has announced it is eliminating about 3% of its workforce, or 160 employees, in a cost-cutting initiative.
CEO Jennifer Witz commented, “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.”
MARCH 17, 2023 — Original post…
New York City, New York-based SiriusXM, the iconic North American satellite radio and online radio service, has announced an operational reorganization.
The restructuring will impact 475 employees, about 8% of the company's workforce.
CEO Jennifer Witz noted, "I have some difficult news to share. After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8%. Unfortunately, this will mean saying goodbye to talented colleagues across the organization."
SiriusXM has completed an assessment of our departments and functions to determine where we can improve collaboration, consolidate teams to achieve greater efficiencies, and ultimately, design an organizational structure that is best positioned to achieve our priorities.”
“The investments we are making in the business this year, coupled with today’s uncertain economic environment, require us to think differently about how our organization is structured. The decision to reduce our workforce was required in order for us to maintain a sustainably profitable company.”
"I want to acknowledge that this is going to be a challenging day, especially for those departing from the Company, and I’d like to extend my deepest gratitude to everyone for their contributions to SiriusXM. Regardless of the team, level, or tenure, you played a role in bringing our Company to where it is today and for that we are grateful. This was not an easy decision to make, nor one we took lightly. However, it is critical for us to take the right steps now to secure the long-term health and profitability of our business."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
