SiriusXM is eliminating about 160 jobs, a move to cut expenses that represents a layoff affecting just under 3% of the satellite radio and audio streamer’s workforce.
Jennifer Witz, CEO of SiriusXM, announced the layoffs in a memo to staff Monday.
“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,” Witz wrote in the memo. “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.”
Witz continued, “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.”