'Nearly every department across SiriusXM will be impacted,' CEO Jennifer Witz told employees in a memo Monday morning.
The satellite radio giant is laying off 475 people, or about 8 percent of its workforce, according to a memo to staff Monday from CEO Jennifer Witz. She said that “nearly every department across SiriusXM will be impacted,” and that employees will be notified Monday.
“We are entering into a new phase for our Company. The investments we are making in the business this year, coupled with today’s uncertain economic environment, require us to think differently about how our organization is structured,” Witz wrote, adding that the company has been reviewing its cost structure since November.
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