SiriusXM to Cut Staff in Response to Faltering Growth in Revenue
- Satellite radio service had 5,590 employees at year end
- Slowing car sales have trimmed its pipeline of new listeners
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SiriusXM Holdings Inc., the satellite radio service controlled by billionaire John Malone, plans to fire staff in the coming weeks amid faltering sales growth, according to people familiar with the matter.
Chief Executive Officer Jennifer Witz is looking to reduce costs and get ahead of any potential economic slowdown, said the people, who asked not to be identified because the company is still assessing how deep the cuts will be.