The Mothership is about to become a little lighter. ESPN is reportedly going through another round of layoffs, and some on air talent is at risk of getting laid off.
CNBC obtained a memo in which the ESPN Chairman announced to staffers that roughly 300 people will be laid off as parent company Disney shifts to more direct-to-consumer streaming. The memo follows internal discussions about layoffs related to Covid-19.
“As you know, we value transparency in our internal dialogue, and that means in both good and challenging times,” Pitaro wrote in the memo. “After much consideration, I have some difficult organizational decisions to share. We will be reducing our workforce, impacting approximately 300 valued team members, in addition to 200 open positions.
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The network, which employs roughly 6,000 people worldwide, also released a statement Thursday from Pitaro confirming the layoffs.
Disney’s stock price was up more than 2% Thursday after the news. With more people cutting the cord, streaming has become Disney’s priority. No one wants to use a cable box these days.
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