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NY Post
New York Post
6 Mar 2023


NextImg:SiriusXM cutting 8 percent of workforce as subscriber growth slows

SiriusXM Holdings, home of Howard Stern, on Monday said it would lay off 8% of its workforce, or about 475 employees, as the satellite radio firm takes a hit from slow subscriber growth.

In February, the owner of podcast platform Stitcher had said it expects to lose subscribers this year as consumers brace for a recession. Weak auto sales are also expected to hurt the radio operator’s subscriber base. The company will also cut its marketing budget.

As on Dec. 31, 2022, SiriusXM had 5,869 full-time and part-time employees.

“Today’s decision to reduce our workforce was required for us to maintain a sustainably profitable company,” Chief Executive Jennifer Witz said in a letter to staff. The layoffs will impact nearly all departments.

SiriusXM joins tech titans such as Microsoft  and Google-parent Alphabet that cut headcount by the thousands to weather a tough economy.

As on Dec. 31, 2022, SiriusXM had 5,869 full-time and part-time employees. Above, shock jock Howard Stern.
Kevin Mazur

In January, music streaming platform Spotify Technology also cut its workforce by 6%.