N/S: Sources: ESPN Laying Off Hundreds (1 Viewer)

[Domefan504]

Well I guess this is what happens when you kiss up to Goodell.

http://deadspin.com/source-espn-laying-off-hundreds-509043249

Here's the statement from ESPN:

We are implementing changes across the company to enhance our continued growth while smartly managing costs. While difficult, we are confident that it will make us more competitive, innovative and productive.
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[Saint_Ward]

I love that graphic.

 

[Domefan504]

Clearly they are scared FoxSports1 is going to blow them out the water.

 

[Saint_Ward]

Pretty cold blooded.

The updates have the best dirt. The last two are probably the biggest kick to the head for any employee laid off.

UPDATE, 11:54 a.m.: A laid-off ESPN employee writes us:

I was laid off from ESPN today after 9 and a half years. Completely out of the blue, no warning at all. I was told it was 10% across the board, which would be roughly 400. I was told the reason was they needed to make their profit margin and they chose to do that via layoff of staff.

UPDATE, 12:10 p.m.: More from the laid-off staffer:

btw.....we were told that the layoffs ARE tied to the profit margin that ESPN needs to meet and the fact they haven't met that number. Your comments about them buying all of these live rights and now needed to reduce overhead costs is dead on.

Additionally, this staffer got the following:

gets to keep key cards and access until Friday
will continue to get paid through the end of July
a severance package, which appears to be 2 weeks for every year worked

UPDATE, 12:20 p.m.: A reader writes that ESPN's "Denver Office in the Denver Tech Center was shut down yesterday. All 20 staff members were let go." A second source told us the same thing about the Denver office.

UPDATE, 12:25 p.m.: Those Guys Have All The Fun co-author Jim Miller hears that the number of layoffs is between 300 and 400.

UPDATE, 12:39 p.m.: By the way, Disney's stock hit an all-time high two weeks ago. God.

UPDATE, 12:48 p.m.: More from our source who was just laid off by ESPN:

The majority of the layoffs today and tomorrow are in Technology...something like 40 people, at least that's what I've heard. All three HR people assigned to Technology are handling layoffs today and tomorrow. No idea what is going on in the other departments. I was told ESPN was forced, by Disney, to do the layoffs due to profit margins. The end numbers / percentages, may not be exactly what they're telling us as we're being laid off. The last time there were layoffs, ESPN used it as an opportunity to get rid of older, higher paid workers, while continuing to fill jobs, including the same jobs of people who were laid off (Supervisors in Operations, for instance). I haven't quite figured out why they didn't try salary reductions, or at least offer salary reductions as an option / alternative to being laid off. It doesn't seem like they're quite the people caring company they'd have people believe they are.

UPDATE, 1:05 p.m.:

Reminder: Last week, ESPN released a video of its huge new SportsCenter set. The building that's going to house that set is going to cost ESPN $125 million.

 

[kevinh]

We need to get some of them to talk about ESPN's behind-the-scenes approach to "bountygate" while they're still angry.

 

[ASaintFerLife]

First as a human it saddens me to see people lose thier jobs, but as a sports fan, especially a life long, born and raised Saints fan, who got viciously trashed by ESPN during "Bounty-less Gate", I shed no tears.

But I do hope these folks find work, maybe CBS Sports, or Fox Sports is hiring, who knows.

Increased profit over human beings with families, not a new thing, sadly.

 

[efil4stnias]

We need to get some of them to talk about ESPN's behind-the-scenes approach to "bountygate" while they're still angry.

strike while the iron is hot....


TP needs to send someone to Bristol asap!

 

[coacher]

Chainsaw management ...

 

[cki3915]

ESPN has been cutting back a lot lately.

1. They all but shut down their UK operation. They did not even try to bid for the Premiership rights they had held.

2. They shut down ESPN America. That was a channel that showed a ton of American sports in Europe. Expats are probably fuming at that decision, because other then the few rights the Eurpoean networks have for some NFL and NBA games, that was the only outlet for American sports there.

Now this.

From the reports, its about "profit margin" It means they are not losing money. They are just not making the kind of money the suits at Disney think they should be making.

 

[Optimistic Ozzy]

Is there a new CEO in town?

 

[gregh]

ESPN is horrible. other than monday night football and if LSU is on there, i dont watch them at all

 

[Mardiboys]

No big deal. Companies are allowed to fire people, and allowed to make as much money as they want. If you don't like it, form your own sports network and hire all those who just got laid off.

ESPN has steadily declined from a news source into an entertainment show. I no longer watch it, unless I have to b/c of a game. I don't need any more Tebow updates in my life. I still hate them for the lies they spread during Bountygate and Eavesdroppinggate.

 

[scott88]

guess the Mouse isn't happy with what's going on over at ESPN

 

[guidomerkinsrules]

just to be clear- if you continue to watch ESPN you support this move

 

[Saint_Ward]

Yeah, Disney is making all of its parts come up to a certain profit level.

ESPN decided to cut approx 400 out of 7000 employees.

Now, so far only about 40-50 have been confirmed. All in a Tech group. so, obviously the major hit hasn't shown its self yet.

But I think that point I made a few posts up is telling. They spend $125M on a new building and set for Sports Center.

I'm not sure how much these people were making, but these aren't the big money folks. Let's assume 50k/year. 50k*400 people = about 20M/year.

So, 400 people working for 6 years or 1 shiny new building that won't make them any more money.

 

[Saints 318]

they all should go to fox or cbs sports and battle espn lol