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Sports Giant ESPN Lays Off 250 People

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We don’t know if ESPN is having financial problems or not, but they’ve just made a major change in their corporate structure.  The company just laid off 250 people, which is a pretty big drop and maybe a sign of the times.  But then again, layoffs mean that the company is better off than ever, only time will tell. 

ESPN has been around since 1979, Founded by Bill Rasmussen, his son Scott Rasmussen and Aetna insurance agent Ed Eagan.  It has been going strong ever since.

 

Cable powerhouse ESPN is cutting 250 jobs after shelling out big bucks to secure sports programming rights.

The layoffs were concentrated in ESPN’s digital operations, a source said. ESPN said it was “smartly managing costs.”

On top of pricey contract renewals with the NFL and MLB, ESPN just struck an 11-year, $770 million deal with the USTA to snag rights to the US Open.

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