ESPN will soon cut down its workforce by 100 employees, due to new digital initiatives like video streaming services. No representative from the company was available for comment on this development. As on date, the company has around 8000 employees. The downsizing is expected to affect technology, on-air staff, management, and other departments.
New talent will be hired for the initiatives. The company is setting up a direct-to-customer service, and it’s launching a new sports network that will cover the Atlantic Coast Conference. Sources close to the company said these initiatives will create job opportunities.
Like other organizations, ESPN continues to face the daunting task of providing engaging content, even in live sports events. It has become evident recently the business has been on the decline, with considerably less subscribers and heavy rights fees owed to NFL, Major League Baseball, the NBA, and other sports organizations.
ESPN executives are emphasizing mobile video content that won’t show up on TV, and flagship shows specifically designed for their digital audience. The company cut 100 employees this year in April of 2015, and on October 2015, 300 more. That same year, the company let go off two important members: Bill Simmons and Keith Olbermann.