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 drive, the company laid off about 3% of its workforce.

Strategically, SiriusXM said it is “doubling down” on vehicles, where 90% of its subscribers engage with its service. The company said it is “focusing its resources on increasing retention and capturing additional growth opportunities within this valuable segment that underpins its scaled subscriber base. As a part of this effort, the company will shift marketing and other resources away from high-cost, high-churn audiences in streaming to focus resources on core revenue-generating segments.”

About a year ago, SiriusXM overhauled its app in order to highlight podcasts and other talent-studded original programming. It has courted mobile users, but in so doing sought to gain share in a crowded marketplace, with Spotify, Apple and Amazon-owned Audible all well-established players.

Joseph Inzerillo, who oversaw the app revamp as Chief Product and Technology Officer, is departing SiriusXM “to pursue other opportunities,” the company said.

In another key exec move, Wayne Thorsen, a former top exec at security firm ADT, has been hired as COO of SiriusXM and will help implement the strategic plan.

“At SiriusXM, we are focusing on the strengths that set us apart – including our strong core subscriber base, our unique position in vehicle, and our unrivaled, curated content — and taking steps to drive profitability and cash flow as we face marketplace headwinds impacting the company’s growth trajectory,” CEO Jennifer Witz said in a press release. “We have a clear path forward and are confident we can deliver for our stockholders.”

Witz was scheduled to appear later Tuesday at the UBS Media and Communications Conference in New York.