More layoffs are being reported in the halls of Sirius XM Radio Inc., presumably in addition to the 30-or-so staffers that were let go last week.
And add that on top of the estimated 100 employees that have been "rightsized" so far, and you have a toll of at least 130 workers.
There's no word as to exactly who was caught up in the mix, but Taylor on Radio-Info reports that it was mostly PDs. Some are sticking around until December 15th, while others will hang in there until December 31st.
Additionally, some are disputing the existance of non-compete agreements being required to get severance. Word has it that XM employees weren't required to sign the contract, but no one is sure if that applied to former Sirius employees.
The question is: after December 31st, will this be the end of the "resource action"? Anxious employees want to know.
More sad news. Bet this time they will downsize the satellite operators and technicians positions, some one told me in DC alone there are almost 100 technical employees.
Speaking of layoffs, there was much discussion on "The O'Reilly Factor" last night about the resurrection of the Fairness Doctrine and how it might destroy AM talk radio. With the Democrats on the verge of taking complete control of the government in January 2009, the Fairness Doctrine may start a chain reaction that tanks AM radio completely. The right-wingers would have no choice but to go to Sirius XM along with their 30+ million listeners.
Its possible that the democrats may save satellite radio after all.
They have already done that before anyone in programming was cut. The problem will come again in January and February when SXM will have to restructure their credit loans. There is a real chance of filing Chapter 11.
Enjoy your jet Mel.
there are several sr IT people too
Please, Sirius / XM will not go bankrupt, they will dilute the shares before then. Not desirable, but if you hold this until everything blows over, there will be an upside albeit small.
IT'S TIME FOR SIRIUS XM TO GO WITH NATIONAL SPONSORSHIP! Based on an hourly basis the advertiser would pay for sponsoring all programming that doesn't have commercials. Example:The DJ or Host would simply annouce"This Hour Is Being Brought To You Buy Coke a Cola, Things Go Better w/ Coke". This would be repeated so many times during the given hour. This way your NOT running 30 second to 2 minute commercials. Sirius could also display the sponsor's name or logo on the radio's screen. DO THE MATH @ EVEN $5,000.00 per hour for NATIONAL AIRING X 24hs. X 365 days per year = OVER $420,000,000 of REVENUE YEARLY! IT's TIME HAS COME. PLEASE CALL MR. FREER'S OFFICE (INVESTOR RELATIONS) @ SIRIUS XM 212-584-5100 and LET HIM KNOW YOU SUPPORT "THE NATIONAL SPONSORSHIP FORMAT.
Mel, turn out the lights before you leave..
I'm really hoping they can just remain solvent. Forget income, just solvent. They have the subscriber base, and it sucks for the employees, but none of them will have a job unless this company severely cuts down. Really, half of them along with half the advertising and overhead all has to go out the window ASAP.
Hopefully it is not the end....sorry for the employess, but they need to cut costs like there is no tomorrow. Because there might not be a tomorrow!
IT'S TIME FOR SIRIUS XM TO GO WITH NATIONAL SPONSORSHIP! Based on an hourly basis the advertiser would pay for sponsoring all programming that doesn't have commercials. Example:The DJ or Host would simply annouce"This Hour Is Being Brought To You Buy Coke a Cola, Things Go Better w/ Coke". This would be repeated so many times during the given hour. This way your NOT running 30 second to 2 minute commercials. Sirius could also display the sponsor's name or logo on the radio's screen. DO THE MATH @ EVEN $5,000.00 per hour for NATIONAL AIRING X 24hs. X 365 days per year = OVER $420,000,000 of REVENUE YEARLY! IT's TIME HAS COME. PLEASE CALL MR. FREER'S OFFICE (INVESTOR RELATIONS) @ SIRIUS XM 212-584-5100 and LET HIM KNOW YOU SUPPORT "THE NATIONAL SPONSORSHIP FORMAT.
i say sixm should get in line behind the financial institutions, auto maker et al and ask for a bailout. seems to be in vogue. Management runs huge companies in the ground and look for us little guys to prop them up, keep them in their jets and huge salaries.
The minute I have to listen to commercials across XM, despite if they're called "announcements" or "sponsors", I drop my subscriptions no questions asked.
I'm not paying to hear commercials.
If Sirius XM provided unique programming not available elsewhere, I think many people would tolerate ads, especially on niche channels where the ads can actually complement the programming by plugging products of interest to a rather narrow audience.
I think if you put ads on a channel like The Pulse, you have nothing to distinguish it from FM, so why bother paying for satellite radio.
I think a free, ad-supported component to satellite radio is the answer. Provide 10 or 12 ad-supported channels to everyone free. Use that to get people in the door -- get the receiver in people's hands, then try to up-sell them to subscription program options.
I say undo the merger. Let SIRI have Stern, let XM have Lee Abrams and Hugh Panero back, and let's start over.
>>> Please, Sirius / XM will not go bankrupt, they will dilute the shares before then.
Right. So, they need to raise maybe $500 million. They just have to issue another THREE BILLION SHARES.
Ha. Bankruptcy may be a lot closer than anyone thinks.
Thanks, Gary. You did your stockholders a real favor here. Each share of XM is now worth what, 75 cents? Do you REALLY think you couldn't have done at least that well without Mel?
Commercials of ANY kind on the premium music channels is TOTALLY unacceptable.
End of story
Sirius also let go most of the XM Production Director Staff...keeping only 4 or 5 out of 20. It appears in NYC Mel kept the original Sirius Production directors instead.