ESPN continued a summer of layoffs Friday that are expected to claim around 20 on-camera and potentially high-profile jobs, as the sports giant downsizes for the streaming era. Among the cuts is top NBA analyst Jeff Van Gundy.
. His return to Disney came after the company reported $1.5 billion in operating losses in the fourth quarter of last year on streaming service Disney Plus, which includes ESPN’s streaming offering, ESPN Plus.
The economics of streaming have been difficult for Disney and ESPN, as they try to build a bridge to a direct-to-consumer future to buttress ESPN’s cable operations. The network has cut more than 1,000 jobs, including notable rounds of layoffs in 2015 and 2017, as it shed cable subscribers over the last decade.
Combined with contracts that haven’t been renewed and personalities that have signed elsewhere, the notable talent that has left the network during that period is significant, including Jemele Hill, Kate Fagan, Mike Golic, Trey Wingo, Matthew Berry, Dan LeBatard and Kenny Mayne.Instead, the company has transitioned to one built around live sports and a smaller number of mega-stars like Stephen A.
Friday’s layoffs have hung over the company for months. Even as late as last week, multiple people said the list of cuts had not been finalized, as ESPN sought to meet the thresholds set by Iger. At a town hall Tuesday with head of content Burke Magnus, one employee said they left with the impression that there would be no more outright layoffs, but there was no discussion of un-renewed contracts.
“It’s important for you to know that these are difficult decisions, involving individuals who have had tremendous impact on our company,” Friday’s memo said. “They are based more on overall efficiency than merit, and we believe they will help us meet our financial targets and ensure future growth.”
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