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SiriusXM Layoffs Hit 3% Of Workforce

Satellite audio firm SiriusXM is trimming its global workforce by about 3% in an effort to become “more efficient, agile, and flexible,” CEO Jennifer Witz wrote in a memo to employees.

The company last year unveiled a significant revamp of its app and has made a series of talent deals in a push into podcasts.

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“We made significant progress on the transformation of our business in 2023, but we have just begun to scratch the surface of what is possible here at SiriusXM,” Witz wrote in the 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. 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.”

SiriusXM announced a deal last month with SmartLess Media, the entity whose namesake podcast ranks among the most popular in existence. Hosted by Will Arnett, Jason Bateman and Sean Hayes, SmartLess shifted from Amazon to SirusXM in a 3-year agreement reportedly worth $100 million.

Long reliant on vehicle-based subscription revenue, SiriusXM is eager to tap deeper into the growing spending by advertisers on podcasts, including via its redesigned mobile app. SmartLess joins a growing roster of podcasts on SiriusXM, including Conan O’Brien Needs a Friend, Ashley Flowers’ Crime Junkie, Crooked Media’s Pod Save America and breakout originals like Office Ladies and How Did This Get Made?

John Malone’s Liberty Media owns about 84% of SiriusXM. Last fall, Liberty proposed a combination of SiriusXM with Liberty’s tracking stock group into a new entity. That transaction is on track to be completed later this year.

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