ESPN Chairman Jimmy Pitaro sent a staff memo Tuesday explaining why the company is conducting a new round of layoffs — and where the cuts will come.
"Over the past several months, we've made significant progress integrating the NFL assets that we acquired into ESPN," Pitaro wrote in the memo, which was obtained by Business Insider. "Throughout this process, we have taken the time to carefully evaluate our collective teams, resources and organizational structure to best position us for the future."
Pitaro said that "most of the job impacts are tied to the acquisition" of the NFL Network, though there would be layoffs in "other parts of the company" as well.
ESPN acquired the NFL Network, the NFL's fantasy football business, and the NFL RedZone highlights show from the league in late January. In exchange, the NFL took a 10% stake in the Disney-owned sports giant, giving the league influence with a key broadcast partner.
ESPN last conducted layoffs in mid-April as part of broader cuts at Disney, its parent company.
ESPN will broadcast its first-ever Super Bowl in February. Disney-owned ABC will simulcast the big game for the first time in over 20 years.
Read the full memo from Pitaro here:
Team:Over the past several months, we've made significant progress integrating the NFL assets that we acquired into ESPN. Throughout this process, we have taken the time to carefully evaluate our collective teams, resources and organizational structure to best position us for the future. As a result, we had to make some difficult decisions about job impacts that we will be communicating today.While most of the job impacts are tied to the acquisition, we will also notify colleagues in other parts of the company today that their positions have been impacted. We are committed to treating employees with compassion and respect and to providing support as they navigate this transition.Even in moments like these, the strength of ESPN comes from our people, our teamwork and our shared mission to serve sports fans.Jimmy
Read next
Follow Following
Every time publishes a story, you’ll get an alert straight to your inbox!
Look out for an alert in your inbox the next time publishes a story!
Every time a new story is published, you’ll get an alert straight to your inbox!
Look out for an alert in your inbox the next time a new story is published!
By clicking “Sign up”, you agree to receive emails from Business Insider. In addition, you accept Insider’s Terms of Service and Privacy Policy.
