SiriusXM Implements Layoffs, Realigns Staff After Pandora Acquisition
With its Feb 1 completion of its acquisition of Pandora Media, Sirius XM rationalized its workforce today, letting go nearly 60 staffer, according to a memo that was sent to staffers from Sirius XM 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.”
Earlier this month, Sirius launched a new station made possible by the acquisition, Pandora Now, which is available on both Pandora and Sirius. It followed that up with other cross-platform programming, making nearly two dozen SiriusXM programs available as podcasts to Pandora listeners.
“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.