ESPN is preparing for another round of layoffs, impacting approximately 30 employees. The cuts are expected to primarily affect off-camera staff and are partly attributed to a revenue dip stemming from a dispute with YouTube TV. This marks another instance of downsizing at the network amidst evolving media consumption habits and rising costs for sports rights.
What happened
ESPN is planning to lay off around 30 employees in the coming weeks. These layoffs follow previous cost-cutting measures, including high-profile on-air talent reductions in the summer of 2023.
How many employees affected
Approximately 30 employees are expected to be affected by the upcoming layoffs. The cuts will primarily impact off-camera departments.
Why layoffs happened
The layoffs are partly a response to a revenue dip caused by a carriage dispute with YouTube TV, which resulted in a $100 million loss for Disney. The company insists the layoffs are unrelated to ESPN's recent acquisition of NFL Network assets.
Company background
ESPN, owned by Disney, is a leading sports television network. It has faced challenges in recent years due to cord-cutting and rising costs for sports rights, leading to multiple rounds of layoffs.
Industry impact
The layoffs at ESPN reflect broader trends in the media industry, where companies are grappling with declining cable subscriptions and increasing costs for live sports rights. This has led to downsizing across various media organizations.
What's next
The specific departments affected by the layoffs remain unclear, but they are expected to primarily impact behind-the-scenes employees. The cuts could also signal further cost-cutting measures within other divisions of Disney.
Source: ctinsider.com, sportsbusinessjournal.com, sportsmediawatch.com, nbcsports.com, awfulannouncing.com