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SiriusXM Cuts 3% of Workforce to Invest in Content, New Technologies
SiriusXM has announced more layoffs. The job cuts will help fund new tech and content amid a subscriber loss reported in the company's 2023 earnings.
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 is hopeful its revamped streaming app — and a $9.99-per-month price tag, which is lower than the satellite radio service — will attract new subscribers and mark the return of revenue growth. The apps personalization features and reduced latency, along with a redesigned SiriusXM logo, have created “a positive lift in brand perception among the growth audience segments we are looking to attract,” she added.
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