Don’t touch that app or tuner – hear/read this news: SiriusXM is joining the growing list of media and technology companies making layoffs.

The satellite radio giant on Monday disclosed it is cutting nearly 500 jobs – or 8% of its workforce.

In an email to staff, CEO Jennifer Witz said the decision to make the cuts was “critical” for the company’s future.

“I have some difficult news to share. After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8%. Unfortunately, this will mean saying goodbye to talented colleagues across the organization,” she wrote, according to a report at CNBC.

“This was not an easy decision to make, nor one we took lightly. However, it is critical for us to take the right steps now to secure the long-term health and profitability of our business,” she added.

“[T]oday’s decision to reduce our workforce was required in order for us to maintain a sustainably profitable company, she explained.

Last week, Charlotte-area based Red Ventures cut jobs at San Francisco-based tech news site CNET.

Tech companies have laid off nearly 123,000 people since job cuts began last fall, according to

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