Posted on 03/06/2023 10:49:24 AM PST by ChicagoConservative27
Radio giant SiriusXM is slashing hundreds of jobs in what the company says is a cost cutting measure.
In a note to SiriusXM employees on Monday, CEO Jennifer Witz said the company will cut eight percent of its workforce, amounting to some 450 jobs, after a recent review of the outlet’s business.
“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 said.
The CEO said SiriusXM in recent months had identified areas in which it could “limit discretionary spending to minimize the impact of any additional needs for staff reductions.”
(Excerpt) Read more at thehill.com ...
This says they had 5600+ employees. That is a LOT!
Good, maybe they’ll stop sending me junk mail every month.
The next step is to cut a bunch more channels - probably, once again, the ones I listen to. They have moved more and more to the name-brand channels like Pearl Jam, Beatles, Jimmy Buffett and others that I don’t listen to, and gotten rid of the non-name-brand, non-rock/rap channels like classical, Chrisitan, Latin jazz, etc. I’ve had SiriusXM since it started (as XM) but they are doing their best to eliminate the content that I listen to, or to move it to internet only.
Tough times in the satellite radio business?
I figure Spotify is eating their lunch.
We, spouse and me, started getting our personal finances under control in 2018. Part of that effort was creating a budget and sticking to it.
Over time we have eliminated almost everything we can live without, off the top of my head, close to $100/month, maybe more, just for stupid subscription services has been eliminated from our expense column. One of the first to go was Sirius XM, for 2 cars we thought we couldn’t live without we were wrong. I don’t care if I get a year for free I don’t need it.
They also do too much talking on the music channels. Just play the friggin music. Heck on FM radio you have to listen to commercials. On XM you have to listen to washed up musicians or DJs
Yes. If you like U2, you can listen to channel 32. It’s dedicated to U2. Lots and lots of U2 there.
Of course, if you don’t like U2 (for whatever reason, I really hate their sound), you can switch one spot over to channel 33 — Alternative hits of the 80s. Much more my speed. More general stuff. More variety. A bit rougher, a little more punk, more new wave, slightly more obscure. BUT, you know what else they play on 33? Lots and lots and lots of U2. It bugs the heck out of me.
There are free internet music channels that play anything you want through your phone.
Other than a few exclusives like Stern (yuck), they basically have nothing to offer except in places with no cell service. They can probably survive but won’t need 5600 employees to do that.
Seems odd they would have 5k employees. They could probably run the place with 500.
In an age when you can stream just about anything on your phone and bluetooth it over to your car paid satellite radio is a dying market.
Don’t worry! This is just a sign of the great economy we are experiencing under Biden. If you don’t believe me just ask all the economic experts.
They’ve cornered most of the market for live sports on radio. There is very little on local radio now other than the home teams.
It’s stuff like this that the non-business experienced bass turd in the White House and his wife don’t understand.
Probably in the customer service department.
I figure Spotify is eating their lunch.
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Most cars now sinc right up with your smart phone. You can navigate I-heart-radio, spotify, pandora, etc right from your car’s dash interface.
I don’t expect satelite radio to crash quickly, but I think you are right. It’s not a strong long term media model. If you own stock, might want to take a second look at it.
They better not layoff the announcer on Forties Junction!
Just the DJs on the channels other than the 80’s. Those other guys add nothing but a couple minutes less that the have to pay ASCAP fees on.
They’d better leave XM148 alone too.
I keep saying I am going to stop XM.
If they kill off any more channels, away it goes.
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