Satellite audio company SiriusXM will lay off 160 employees
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San Francisco (Uttam Hindu News): Satellite audio firm SiriusXM has announced it is laying off 160 employees, or about three percent of its global workforce. The company reported 5,680 full-time and part-time employees as of December 31 last year, The Hollywood Reporter reports. “To maintain the company’s success, it is imperative that we become even more efficient, agile and flexible,” CEO Jennifer Weitz said in a memo to employees.
“So, today we are making a number of organizational changes, including the difficult decision to eliminate some roles, that will allow us to move faster and collaborate more effectively in support of our long-term objectives,” he said. The company had laid off 475 employees, or about 8 percent of its workforce, in March last year.
Earlier this month, the satellite audio company reported fourth-quarter earnings of $2.29 billion. Last month, Canada-based storytelling platform Wattpad cut about 15 percent of its workforce in another round of layoffs conducted in early January.
TechCrunch quoted sources as saying that the company has laid off about 30 employees.
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