SiriusXM Holdings Inc on Monday said it would lay off 8 per cent of its workforce, or about 475 employees, as the satellite radio firm takes a hit from slow subscriber growth.In February, the owner of podcast platform Stitcher had said it expects to lose subscribers this year as consumers brace for a rece
SiriusXM Holdings Inc on Monday said it would lay off 8 per cent of its workforce, or about 475 employees, as the satellite radio firm takes a hit from slow subscriber growth.
In February, the owner of podcast platform Stitcher had said it expects to lose subscribers this year as consumers brace for a recession. Weak auto sales are also expected to hurt the radio operator's subscriber base. The company will also cut its marketing budget."Today's decision to reduce our workforce was required for us to maintain a sustainably profitable company," Chief executive Jennifer Witz said in a letter to staff. The lay offs will impact nearly all departments.
SiriusXM joins tech titans such as Microsoft Corp and Google-parent Alphabet Inc that cut headcount by the thousands to weather a tough economy.Source: Reuters
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft expands ChatGPT integration to more developer toolsMicrosoft Corp on Monday bundled the technology behind ChatGPT with its Power Platform that allows users to develop applications with little or no coding, the latest integration of artificial intelligence into its products.Big tech companies from Alphabet Inc to Baidu Inc are speeding up the integration o
Read more »
Qualtrics gets $12.4 billion buyout offer from Silver Lake, Canada's CPPIBSoftware maker Qualtrics International Inc said on Monday it had received a $12.4 billion buyout offer from private-equity firm Silver Lake Management and Canada Pension Plan Investment Board (CPPIB).The deal values each stock of Qualtrics at $18.15, a premium of nearly 6 per cent to the company's last cl
Read more »
'I was challenged on which side I am on': Mediator on difficulties settling disputes between warring neighboursThe occasional loud music aside, peace has returned in the past few months for those living in Block 280 Tampines Street 22. For Syafiq Sadiq, it's a welcome change – after living with a 'neighbour from hell' for six years. 'He still plays the radio a bit louder than usual, but he's toned down a lot,' the 34-year-old tech analyst...
Read more »
Tesla cuts US Model S and Model X prices between 4% and 9%:Tesla Inc has cut prices on its two most expensive electric vehicles in the United States, according to the company's website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand.The price cuts, Tesla's fifth adjustment since the start of the year, ranged from 4 per
Read more »
Tesla cuts prices of Model S and Model X variants in US - website:Tesla Inc has cut prices of its Model S and Model X vehicles in the United States, its website showed, days after chief executive Elon Musk said recent price cuts of other models had stoked demand.Prices of Tesla's Model S cars were cut by $5,000. The basic version of Model S would now cost $89,990, down fro
Read more »
Piastri retires from race on his Formula One debutMANAMA: Australian Oscar Piastri's Formula One debut lasted 14 laps before his McLaren was wheeled into the garage with an electrical problem in Sunday's (Mar 5) Bahrain season-opener. The 21-year-old had complained over the radio of gearbox problems and was told the mechanics would swap his steering wheel
Read more »