Layoffs At SiriusXM Following Pandora Acquisition
The news was delivered in a memo sent to staffers by Sirius XM CEO Jim Meyer.
The memo reportedly reveals that the layoffs were made in order to “better align” Sirius and Pandora’s resources with their “business needs,” and acknowledged that due to the acquisition, “both organizations knew that there would be changes to the workforce” as they found “greater visibility on the roadmap for the combined companies.”
According to SEC filings, Sirius XM and Pandora currently maintain a combined workforce of 4,600 employees. Today’s layoffs represent approximately 1% of that workforce, reports Billboard.