Post a Free Blog

Submit A Press Release

Friday, March 29, 2024
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
-- Advertisement --spot_img
HomeBusinessESPN plans to lay off 300 employees this Thursday

ESPN plans to lay off 300 employees this Thursday

Author Wikimedia JhoelMB

 

ESPN plans to lay off 300 employees. The company has put on hold to fill 200 open positions in the company. Studio production is expected to be cut quite a lot  while some of the cost savings will come from talent contracts not being renewed.

ESPN, one’s of Disney’s most stable assets, will remove 500 positions and recalibrate its operations to suit the changing times. Consumers have been abandoning watching traditional TV in favor of streaming operations on mobiles and smart devices. ESPN has been dealing with layoffs even before the pandemic and now expects to trim jobs across the company. ESPN had thrived through the years on the huge fees it gets from cable operators and satellite distributors who carry its bouquet of channels.

Many parts of the Disney empire were affected by the pandemic. In April ESPN had asked almost 100 of its highly paid on air sportscasters and senior executives to take a salary reduction. Now, it is looking at cutting behind the scenes positions to free revenue; to improve its broadband services and to enhance its digital presence.

“The speed at which change is occurring requires great urgency, and we must now deliver on serving sports fans in a myriad of new ways,” ESPN chairman Jimmy Pitaro wrote to employees. “Placing resources in support of our direct-to-consumer business strategy, digital, and, of course, continued innovative television experiences, is more critical than ever.”

https://twitter.com/richarddeitsch

Subscribe to get Latest News Updates

Latest News Articles

You may like more
more

Semtech Shares Jump 3 percent Following Q4 Results

Semtech (NASDAQ:SMTC) experienced a more than 3% increase in...

Target Stock Added to Fresh Money List at Deutsche Bank

Deutsche Bank analysts placed Target (NYSE:TGT) on the Fresh...

AMC Shares Plunge 14 percent on a New Equity Distribution Deal

AMC Entertainment Holdings (NYSE:AMC) saw its shares drop over...

Palantir Technologies Stock Drops 6 percent on Monness, Crespi, Hardt Downgrade

Palantir Technologies (NYSE:PLTR) stock plunged more than 6% on...