ESPN announces 150 layoffs

[OrangeXtreme]

 

[texascpa]

Heard this was coming. What I don't get is why this is headline news. ESPN/Disney is not the only large company to lay off people and 150, all while to the affected individuals is important, is not a large number.

Hell, my company has laid off as many as 1200 people at once - and that was only one of the 5 times we've had reductions in force. Never made the news.

 

[DeGrozz]

Heard this was coming. What I don't get is why this is headline news. ESPN/Disney is not the only large company to lay off people and 150, all while to the affected individuals is important, is not a large number.

Hell, my company has laid off as many as 1200 people at once - and that was only one of the 5 times we've had reductions in force. Never made the news.

Probably because many of those RIF'ed will be public personalities.

But most large reductions in force are announced during earnings calls. As long as you were a public company, I bet there are articles and other media out there announcing it. It just didn't get posted on sites people go to for fun.

 

[UnknownOrange]

Heard this was coming. What I don't get is why this is headline news. ESPN/Disney is not the only large company to lay off people and 150, all while to the affected individuals is important, is not a large number.

Hell, my company has laid off as many as 1200 people at once - and that was only one of the 5 times we've had reductions in force. Never made the news.

It's because the astronomical $ they paid for MNF/NBA + John Skipper getting a raise and extension all the while the ship is sinking. I'm not sure what company you work for but ESPN has been struggling for years and it's been interesting to watch it's explosive rise and now meteoric fall

 

[OttoinGrotto]

I read recently that at least for the on air talent, some of them will get paid on their contract through 2020.

 

[texascpa]

Probably because many of those RIF'ed will be public personalities.

But most large reductions in force are announced during earnings calls. As long as you were a public company, I bet there are articles and other media out there announcing it. It just didn't get posted on sites people go to for fun.

Sure, mostly analyst-centric sites.

 

[Alsacs]

John Skipper has done a chitty job and they extended him.
He overpays for his properties.
He lets CAA dictate which talent get overpaid and which don’t.
The decision to give Mike Greenberg a raise to 6 million per year and his own show which is costing tens of millions dollars to build a new studio in NYC is just tone deaf.
Skipper is just a terrible leader and his work has killed ESPN’s profit margins and tanked Disney stock but because Iger may want to run for President he won’t make a change at ESPN.

 

[MadNY3]

...but because Iger may want to run for President he won’t make a change at ESPN.

This has to be a Not Top 10 Board Post of the Week. Has. To.

 

[sufandu]

It's because the astronomical $ they paid for MNF/NBA + John Skipper getting a raise and extension all the while the ship is sinking. I'm not sure what company you work for but ESPN has been struggling for years and it's been interesting to watch it's explosive rise and now meteoric fall

I thought I read that ESPN is still Disney's best profit maker. It's just not as profitable as it was a few years ago.

 

[sufandu]

I think ESPN needs to ship their best sportcenter anchors to LA and fill most of their other shows with talking heads that think way too highly of themselves. Wait...

 

[Lynch1967]

My cousin works for ESPiN, won an Emmy last year or the year before for the cool graphics he does for MNF and College Football. Hopefully he survived the cut, he felt pretty confident after the last go round that he would survive the next one as he already knew it was coming. Need to call him.

 

[OrangeXtreme]

 

[corpjet]

ESPN will drop the NFL for MLS and Premier League Soccer as soon as they can (I cringe saying this)...the college sports they will continue with and push harder and harder for the ESPN3 and online BS to continue as they battle with the likes of DirectTv, Comcast, etc......our AD got out in the nick of time, How happy do you think he is with his decision...

 

[MadNY3]

My cousin works for ESPiN, won an Emmy last year or the year before for the cool graphics he does for MNF and College Football. Hopefully he survived the cut, he felt pretty confident after the last go round that he would survive the next one as he already knew it was coming. Need to call him.

People here love to hate on ESPN. It's stupid. One, the amount of Syracuse Orange talent in the halls is significant, and the brand co-built Syracuse Basketball national prominence. Two, it has helped sports become incredibly accessible.

Any retrenching of ESPN is not something to celebrate.

 

[sufandu]

People here love to hate on ESPN. It's stupid. One, the amount of Syracuse Orange talent in the halls is significant, and the brand co-built Syracuse Basketball national prominence. Two, it has helped sports become incredibly accessible.

Any retrenching of ESPN is not something to celebrate.

People here hate on ESPN because they aren't what they once were. They've shifted from sports journalism to sports H0T Takes. Almost everything outside of a game broadcast is unwatchable.

 

[OburgOrange]

People here hate on ESPN because they aren't what they once were. They've shifted from sports journalism to sports H0T Takes. Almost everything outside of a game broadcast is unwatchable.

This... I used to love ESPN. Can’t stand it now. I only watch live sporting events and College Game Day. Everything else is unwatchable

 

[UnknownOrange]

I thought I read that ESPN is still Disney's best profit maker. It's just not as profitable as it was a few years ago.

It might still be as of right now but it is dying. What’s the point of watching espn other than live events? The world changed and sportscenter and their little debate shows died with it

 

[orange79]

People here love to hate on ESPN. It's stupid. One, the amount of Syracuse Orange talent in the halls is significant, and the brand co-built Syracuse Basketball national prominence. Two, it has helped sports become incredibly accessible.

Any retrenching of ESPN is not something to celebrate.

But...but...STREAMING! ONLINE!!

 

[sufandu]

It might still be as of right now but it is dying. What’s the point of watching espn other than live events? The world changed and sportscenter and their little debate shows died with it

I guess I just don't consider something "dying" or "struggling" as long as it's still the most profitable piece of a large company like disney. I suppose perception for them is different than some other industries that regularly have much thinner profit margins.

I agree about their programming, as I said above. They have either gotten lazy or incompetent with finding on air personalities. That was always the driving force when they were at their peak.

 

[UnderHisOwnPower]

People here hate on ESPN because they aren't what they once were. They've shifted from sports journalism to sports H0T Takes. Almost everything outside of a game broadcast is unwatchable.

Ever since Schwartz’ botched hit job on Bernie and SU Hoops, how could anyone want to see them survive? Good riddance.

 

[sufandu]

Ever since Schwartz’ botched hit job on Bernie and SU Hoops, how could anyone want to see them survive? Good riddance.

I wouldn't say I want them to fold. I want them to improve. That only happens when management cares about the quality of the product. It reminds me of the american auto industry in the '70's and '80's when executives were too arrogant to acknowledge they were the biggest part of the problem and tried to fool the customer with gimmicks instead of making a decent product. I don't have high hopes for them given the high volume of crap ABC at large produces.

 

[UnknownOrange]

I guess I just don't consider something "dying" or "struggling" as long as it's still the most profitable piece of a large company like disney. I suppose perception for them is different than some other industries that regularly have much thinner profit margins.

I agree about their programming, as I said above. They have either gotten lazy or incompetent with finding on air personalities. That was always the driving force when they were at their peak.

For me - they could have Scott Van Pelt (my favorite personality) on the 6PM sportscenter and I'm still probably not watching. I honestly just think the whole idea of sportscenter is pointless these days. You as a fan just do not need to wait until 6pm or 11pm to find out what you want to know

 

[orange02]

John Skipper has done a chitty job and they extended him.
He overpays for his properties.
He lets CAA dictate which talent get overpaid and which don’t.
The decision to give Mike Greenberg a raise to 6 million per year and his own show which is costing tens of millions dollars to build a new studio in NYC is just tone deaf.
Skipper is just a terrible leader and his work has killed ESPN’s profit margins and tanked Disney stock but because Iger may want to run for President he won’t make a change at ESPN.

Disney has beat the S&P 500 by 200% since Skipper became EVP of content, and 70% since since he became president. Disney hasn't had a great run recently, but his tenure has not "tanked" the stock. And sufandu is correct, ESPN is still the most profitable arm of Disney.

 

[LeMoyneCuse]

Any retrenching of ESPN is not something to celebrate.

Nor is it something to celebrate that people are losing their jobs, regardless of your feelings on some corporate entity. Do you have any idea how hard it is to find a good job now?

 

[Alsacs]

Disney has beat the S&P 500 by 200% since Skipper became EVP of content, and 70% since since he became president. Disney hasn't had a great run recently, but his tenure has not "tanked" the stock. And sufandu is correct, ESPN is still the most profitable arm of Disney.

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Skipper is no Mark Shapiro.
He is terrible.