Mar 08, 2017 08:55 AM EST
ESPN will implement job cuts through June that will affect some of the personalities who appear on TV, radio and online.
The cut will only affect talents and not rank-and-file employees according to insiders familiar with the issue.
The details of the job cuts are still in the process to be finalized but layoffs would definitely take place through June. Reports mention that there have been no further announcements on which personalities will be affected by the job cut. However, sources claim that personalities whose contracts are up for renewal may be cut first. ESPN may also buy out contracts that aren't ending soon.
"We have long been about serving fans and innovating to create the best content for them," ESPN said in a statement released on Tuesday. "Today's fans consume content in many different ways and we are in a continuous process of adapting to change and improving what we do." ESPN furthered that as a consequence to delivering what the fans want, the company will be laying off its present talents. ESPN claimed confidence in finding another roster of talent that is unequaled in sports.
It can be remembered that ESPN laid off some of its talents in 2015. Among the big names that saw the end of their contracts were Keith Olbermann and Bill Simmons, both of whom had expensive contracts with the sports channel. The following year, ESPN also implemented job cuts that affected 300 employees that were roughly four percent of the network's global workforce.
Although the company had a round of laid offs since 2013, during those incidents, hosts, reporters and commentators, alike, were generally not affected. The job cuts came as ESPN saw a growth in the number of viewers that unsubscribed from its channel. Aside from the decreasing subscribers, ESPN was paying for costly long-term deals with pro sports leagues.
Currently, a driver of a UK-registered car is allowed to drive anywhere in the EU, the EEA (European Economic Area), Switzerland and Serbia, and not have to carry a green card that proves you have insurance cover.
President Trump on Friday announced the first concrete deal with China to come out of nearly three months of trade talks - a deal to prevent currency manipulation.
Europe's largest economy offered mixed signals on Friday that suggest it's down but not out.
New research finds that despite regulations, CEOs control information release and may do so for their own financial gain
Normally, it's good to believe in yourself. But research from Indiana University's Kelley School of Business indicates that it can be bad advice for amateurs investing online in unregulated, sometimes risky, equity crowdfunded ventures.
Nearly half of new moms and a quarter of new dads leave their full-time STEM jobs after they have their first child, according to a new study.
Visa Inc and Mastercard Inc, the two biggest U.S. card networks, are preparing to raise certain fees levied on U.S. merchants for processing transactions from this April, the Wall Street Journal reported on Friday, citing people familiar with the matter.
People who travel for business two weeks or more a month report more symptoms of anxiety and depression and are more likely to smoke, be sedentary and report trouble sleeping than those who travel one to six nights a month, according to a latest study conducted by researchers at Columbia University's Mailman School of Public Health and City University of New York.
President Trump said Friday he is declaring a national emergency on the southern border, tapping into executive powers in a bid to divert billions toward construction of a wall even as he plans to sign a funding package that includes just $1.4 billion for border security.