Sirius XM cuts 8% of workforce
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Sirius XM Holdings (NASDAQ:SIRI) has disclosed that it cut the size of its workforce by 8%.
In an SEC filing, the company says it's cut jobs by 475 roles.
CEO Jennifer Witz sent staffers mail at 9 a.m. ET informing them of the cuts.

"We are entering into a new phase for our company. The investments we are making in the business this year, coupled with todayâs uncertain economic environment, require us to think differently about how our organization is structured," Witz said in the mail.
"We streamlined our non-headcount costs by reducing content and marketing spend, decreasing our real estate footprint, and most recently, implementing tighter restrictions in our Travel and Entertainment policy," she continued. "However, todayâs decision to reduce our workforce was required in order for us to maintain a sustainably profitable company."