ESPN Slashes 500 Jobs in Major Cost-Cutting Move

That includes 300 layoffs and scrapping 200 open positions

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ESPN is eliminating 500 jobs in an effort to cut costs amid the coronavirus pandemic, Jimmy Pitaro informed his staff on Thursday.

In a memo obtained by TheWrap, Pitaro said the company would be laying off 300 staffers and scrapping 200 open positions.

“Today is hard because ESPN has always been — and will always be — fortified by its fantastic people,” he wrote. “Teamwork, dedication, spirit and grit have built this place and are what make ESPN special.”

“Prior to the pandemic, we had been deeply engaged in strategizing how best to position ESPN for future success amidst tremendous disruption in how fans consume sports,” Pitaro added. “The pandemic’s significant impact on our business clearly accelerated those forward-looking discussions. In the short term, we enacted various steps like executive and talent salary reductions, furloughs and budget cuts, and we implemented innovative operations and production approaches, all in an effort to weather the COVID storm.”

“We have, however, reached an inflection point. 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. Placing resources in support of our direct-to-consumer business strategy, digital and, of course, continued innovative television experiences, is more critical than ever.”

More to come…

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