ESPN Announces Layoff
My latest Memphis Daily News column is out, “ESPN Announces Layoff”
With the NBA basketball season just starting up, ESPN has made an announcement that may seem quite shocking. They are planning to lay off 300 employees, or 4 percent of their 8,000-person workforce. Given that ESPN is a worldwide authority in sports, this news seems a bit jarring at first.
But, when you dig into the details, ESPN’s story is one familiar to many media outlets. Their once reliable revenue stream coming from cable and satellite subscribers is losing momentum. Rather than grow, their number of subscribers is down 5.3 percent in the past two years.
As an employee working at one of these big companies, it can feel like you’re helpless to not be left behind when these changes occur.