SiriusXM Plans $200M In Cost Cuts In Pullback From Streaming, “Doubling Down” On Core Auto Market; Stock Tumbles 10% On Revenue Outlook

Satellite audio firm SiriusXM is aiming to trim costs by $200 million in 2025 as it shifts away from streaming and refocuses on its core automotive market. The news, announced in a press release, follows efforts in 2023 and 2024 to achieve about $350 million in cost savings. Last February, as part of that austerity