ESPN may be the biggest name in sports on television and its parent company is seeing record profits, but the network has confirmed that it has let go of hundreds employees. While the network hasn’t officially confirmed the number, a report puts the number at nearly 400.
The move was first reported by Deadspin and an employee who was among those laid off told the site that 10 percent of the workforce - nearly 400 - received pink slips. A source told the site that the technology department was a major target, losing 40 staffers.
Deadspin also reports that ESPNU’s Unite program was cancelled and the staffers on that show were laid off.
Those laid off can keep working to the end of the week and will get paid through July.
ESPN did later issue a statement that reads, “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.”
According to The Hollywood Reporter, this news comes just two weeks after the revenue for Disney’s media networks unit hit $4.96 billion, up 6 percent. Forbes had recently put ESPN’s worth at nearly $40 billion.
It also follows Disney’s layoffs in April and the closing down of LucasArts.
This is ESPN’s first major round of layoffs since 2009.