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| Reuters |
ESPN laid off about 20 of its sports personalities on Friday as the Walt Disney (DIS.N) unit seeks to more closely manage costs, a source said.
Among those affected by the cuts were long-time NBA analyst Jeff Van Gundy, former head coach of the New York Knicks and Houston Rockets, and studio analyst Jalen Rose, a former NBA player at six teams including the Indiana Pacers.
It also laid off ESPN Radio's morning show co-hosts, Max Kellerman and Keyshawn Johnson.
“Given the current environment, ESPN has determined it necessary to identify some additional cost savings in the area of public-facing commentator salaries, and that process has begun,” ESPN said in a statement to Reuters.
ESPN has already undergone two rounds of layoffs that did not impact talent as part of parent company Disney's announced plans to eliminate 7,000 jobs. The Burbank entertainment giant is seeking to pare $5.5 billion in costs.
This latest round of reductions, targeting talent, was part of ESPN's efforts to hit its financial targets. A source said ESPN would honor their employment contracts. It also will evaluate future contracts when they come up for renewal.
"These difficult decisions, based more on overall efficiency than merit, will help us meet our financial targets and ensure future growth,” ESPN said in its statement.
- Reuters
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