ESPN, which is owned by Disney, is preparing for another round of layoffs with a memo going around to staff this week that 150 employees will be on the way out.
The majority of the layoffs are expected to affect roles that are mostly behind-the-scenes. According to the memo written by ESPN President John Skipper, the company will aim to assist those departing as much as possible with bonuses, severance packages, health benefits and an outplacement service.
We are being told that the majority of jobs being eliminated are in studio production, digital content, and technology.
Unfortunately, these layoffs are in keeping with a continued downturn at ESPN. The network has over the last few years seen its subscription base drop by over 10 million as clients are leaving cable providers in favor of digital streaming services.
As we reported here at Chip and Co., Disney is planning on launching its own streaming service which it hopes will rival the success of Netflix. However, what happens at ESPN in the meantime remains uncertain.
Readers are encouraged to keep following along with Chip and Co. for the latest in ESPN news and updates.
Image copyright Disney.
Source: Fortune
Let our friends at Destinations to Travel help you book your next Disney Vacation. They are the preferred Travel Agency of Chip and Company and Disney Addicts, and who we use ourselves.
Get started below for your FREE No Obligation Quote.
Book With our friends at Destinations to Travel
For the BEST in Disney, Universal, Dollywood, and SeaWorld Theme Park News, Entertainment, Merchandise & More follow us on, Facebook, Instagram, and Youtube. Don't forget to check out the Chip and Company Radio Network too!
