Thursday, May 2, 2019

SiriusXM Implements Layoffs

With its Feb 1 completion of its acquisition of Pandora Media, SiriusXM rationalized its workforce today, letting go nearly 60 staffers, according to a memo that was sent to staffers from CEO Jim Meyer.

With a combined workforce of 4,600 employees, according to the Sirius and Pandora 10-K filings to the SEC, that’s represents about 1% of its work force.

The memo, provided to Billboard by the company, acknowledged that due to the acquisition, “both organizations knew that there would be changes to the workforce as we realigned departments, formed new teams and found we had a greater visibility on the roadmap for the combined companies,” Meyer’s memo said. “We made these changes to better align our resources with business needs.”

Meyer acknowledged that workforce reductions can take an emotional toil on both the departing and remaining staffers. “Changes like these are difficult, and I want to take a moment to recognize the contributions each of those individuals gave to both Pandora and SiriusXM,” Meyer’s memo continued. “Their work and focus helped put us in the leadership position we have today."

“The opportunities for SiriusXM and Pandora together are exciting, and, now more than ever, I need your focus and dedication on the work at hand,” Meyer urged the company’s staff in concluding the memo.

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