The playing field to pitch ESPN just got smaller.
ESPN President John Skipper on Wednesday announced that layoffs at the company start today. According to CNNMoney.com, about 300 employees, nearly 4 percent of the network's global workforce, will be affected, quoting a network spokeswoman. The cuts will take place during the next several days.
"Beginning today, we will be enacting a number of organizational changes at ESPN to better support our future goals—a process that will include the elimination of a number of positions, impacting friends and colleagues across the organization," ESPN President John Skipper, said in an internal memo.
He added: “The people who will be leaving us have been part of ESPN’s success, and they have our respect and appreciation for their contributions. We will be as supportive as we can during this transition, including providing a minimum of 60-days notice, a severance package reflective of their years of service, and outplacement benefits to help them find future employment.”
ESPN did not specify which departments or shows would bear the burden of the layoffs.
The layoffs at ESPN come amid increasing competition for eyeballs from such online venues as the Bleacher Report and Deadspin, as well as broadcast networks like FS1, the Fox unit that debuted in 2013.
What is more, ESPN and other cable channels are finally starting to feel the squeeze by people who have decided to “cut the cord,” and cancel their cable subscriptions. Millennials, who have yet to meet a legacy they like, continue to lead the charge.
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