ESPN To Cut 300 Jobs, Eliminate 500 Positions Overall As It Reaches Digital “Inflection Point”
Jill Goldsmith, Dade Hayes Walt Disney’s ESPN will eliminate 500 positions, including 300 jobs that are filled and 200 that aren’t, to reserve cash for DTC and digital initiatives, the sports media broadcaster, chairman Jimmy Pitaro said in a memo (below) to staff Thursday.He said the division had 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 said.