ESPN Begins Major Layoffs Despite Enormous Profits

Claire Gordon
Updated
Satellite dishes outside of ESPN headquarters in Bristol, Conn.
Satellite dishes outside of ESPN headquarters in Bristol, Conn.

In November, Forbes called ESPN the world's most valuable media property. Earlier this month, the stock of ESPN's corporate parent Walt Disney Co. hit a record high. And on Tuesday, ESPN slashed its workforce.

Sources told Deadspin that ESPN was laying off staff "in the hundreds." ESPN refused to confirm any number, stating instead: "We are implementing changes across the company to enhance our continued growth while smartly managing costs. While difficult, we are confident that it will make us more competitive, innovative and productive."

One anonymous laid-off employee told Deadspin that 10 percent of the 4,000-person staff in Bristol, Conn., was getting the pink slip, but ESPN responded that the 400 estimate is "wrong and high."

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