ESPN Layoffs Likely to Hit On-Air Personalities

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Walt Disney Co (NYSE:DIS) announced a round of ESPN layoffs that will probably affect some well-known on-air personalities.

ESPN Layoffs Likely to Hit On-Air Personalities

The announcement came Monday, which comes as a result of the network’s subscription service losing some subscribers recently. The move is part of a broader effort that will help reduce company costs over the coming four months.

Parent-company Walt Disney recently unveiled that its profit in the last quarter of 2016 was 13% lower than it was in the same period during fiscal 2015. It is still unclear who exactly will lose their job as ESPN has not made any decisions regarding who’s leaving and who’s staying.

There is also no definite number of ESPN layoffs that are happening at the moment. “Outside of the on-air, we do continue to hire,” a source familiar with the matter mentioned.

The network’s headquarters are in Bristol, Connecticut where there are more than 4,200 workers at the headquarters and main studio areas. The ESPN workers who are considered to be talent are about 1,000, which includes broadcasters and SportsCenter anchors, the latter of which make up about 40 employees.

Another reason why these ESPN layoffs are happening revolve around the fact that the cost of broadcast rights for professional sports leagues such as the NBA are higher than ever.

DIS shares fell about 0.1% Tuesday.


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