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ESPN laying off 150 more in newest round of cuts

Published 11/29/2017, 09:23 AM
© Reuters.  ESPN laying off 150 more in newest round of cuts
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  • ESPN (NYSE:DIS) says it's cutting 150 more people in the latest round of layoffs, ahead of a planned shift of resources into new areas like its streaming service.
  • "Today we are informing approximately 150 people at ESPN that their jobs are being eliminated," ESPN President John Skipper writes in an internal memo, primarily "in studio production, digital content, and technology."
  • The network laid off about 100 employees in April; it has about 8,000 workers overall.
  • But cable subscribers continued to decline in its last quarter, while sports programming rights costs are still on the upswing.
  • Disney is up 0.3% premarket.
  • Now read: Disney: Is A 10% Dividend Increase On The Way?


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