ESPN is removing 500 jobs as a cost cutting measure amid the ongoing COVID-19 pandemic.
Jimmy Pitaro, President of ESPN, announced the impending cuts in a memo published Thursday by the Los Angeles Times. The memo noted employees “will be learning about their future” in the coming weeks.
“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 said in the memo. “The pandemic’s significant impact on our business clearly accelerated those forward-looking discussions.”
300 employees will be layed off and an additional 200 open positions will be removed. ESPN has more than 5,000 employees worldwide. The network has been fast-tracking its move to streaming amid the coronavirus pandemic. UFC has been a streaming jewel for the company in 2020, but it is unknown how the cuts will affect the MMA leader.