Radio

Layoffs at Sirius XM Radio

By Patrick on October 16, 2008 9:38 AM

From the WaPo:

    Sirius XM Radio laid off at least 50 workers yesterday, including on- and off-air talent at channels with formats ranging from oldies to modern rock, according to employees and a source with direct knowledge of the cutbacks.

    Staff reductions had been rumored since Sirius acquired District-based XM this summer in a deal valued at $3.3 billion. Chief executive Mel Karmazin told investors and analysts last month that the company will lose about $350 million this year on revenue of $2.4 billion.

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