Saw this article and wondered what the local experts think. Will it be a sign of potential trouble for college sports?
ESPN is eliminating 500 jobs in an effort to cut costs amid the coronavirus pandemic, Jimmy Pitaro informed his staff on Thursday.
In a memo obtained by TheWrap, the president of ESPN said the Disney-owned company would be laying off 300 staffers and scrapping 200 open positions in an effort to shift more resources toward ESPN’s direct-to-consumer business strategy, digital content and “continued innovative television experiences.”
“Prior to the pandemic, we had been deeply engaged in strategizing how best to position ESPN for future success amidst tremendous disruption in how fans consume sports,” Pitaro wrote. “The pandemic’s significant impact on our business clearly accelerated those forward-looking discussions. In the short term, we enacted various steps like executive and talent salary reductions, furloughs and budget cuts, and we implemented innovative operations and production approaches, all in an effort to weather the COVID storm.”
“We have, however, reached an inflection point. The speed at which change is occurring requires great urgency, and we must now deliver on serving sports fans in a myriad of new ways. Placing resources in support of our direct-to-consumer business strategy, digital and, of course, continued innovative television experiences, is more critical than ever.”
Pitaro told staff ESPN has “overcome tremendous challenges and adversity over these past several months” and that the job eliminations “were not made lightly.”
“They are, however, necessary and I am convinced that we will move forward and effectively navigate this unprecedented disruption.”
ESPN is eliminating 500 jobs in an effort to cut costs amid the coronavirus pandemic, Jimmy Pitaro informed his staff on Thursday.
In a memo obtained by TheWrap, the president of ESPN said the Disney-owned company would be laying off 300 staffers and scrapping 200 open positions in an effort to shift more resources toward ESPN’s direct-to-consumer business strategy, digital content and “continued innovative television experiences.”
“Prior to the pandemic, we had been deeply engaged in strategizing how best to position ESPN for future success amidst tremendous disruption in how fans consume sports,” Pitaro wrote. “The pandemic’s significant impact on our business clearly accelerated those forward-looking discussions. In the short term, we enacted various steps like executive and talent salary reductions, furloughs and budget cuts, and we implemented innovative operations and production approaches, all in an effort to weather the COVID storm.”
“We have, however, reached an inflection point. The speed at which change is occurring requires great urgency, and we must now deliver on serving sports fans in a myriad of new ways. Placing resources in support of our direct-to-consumer business strategy, digital and, of course, continued innovative television experiences, is more critical than ever.”
Pitaro told staff ESPN has “overcome tremendous challenges and adversity over these past several months” and that the job eliminations “were not made lightly.”
“They are, however, necessary and I am convinced that we will move forward and effectively navigate this unprecedented disruption.”
