Disney-owned ESPN is heading for yet another round of big layoffs. John Skipper, president of the embattled sports juggernaut, said in a memo today that the network is informing 150 people that their jobs are being eliminated. He says the cuts will largely affect studio production, digital content, and technology.
The memo was reposted on the ESPN blog.
“We appreciate their contributions, and will assist them as much as possible in this difficult moment with severance, a 2017 bonus, the continuation of health benefits, and outplacement services,” Skipper wrote. “They will also appreciate your support.”
The layoffs have been circulating in the rumor mill for a few weeks. Earlier this month, Disney reported lackluster earnings, bogged down by advertising and subscriber declines at ESPN. The network—which commands hefty affiliate fees from cable companies—is facing an existential crisis in an era of escalating cord-cutting.CZ