ESPN is making ridiculous profits. Ridiculous. They are doing so well that they've been spawning imitators (NBC & Fox). They are literally the envy of the media world.
And yet, they fired approximately 400 staffers yesterday...a 10% cut across the board. This was their explanation: "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."
More competitive? Doubtful. More innovative? Not a chance. More productive? Demonstrably 100% false.
How these corporate goons don't choke on their words is beyond my comprehension. I used language like their preposterous statement in "$everance" as a joke.
Here's how the statement would read if they were telling the truth: "We are firing people because our bosses and stockholders are greedy, and have no appreciation at all for the people that turned this thing into a money making machine."
Here's more from the Hollywood Reporter...
News of layoffs come less than two weeks after Disney's media networks segment rose 6 percent to $4.96 billion, with operating income up 8 percent to $1.86 billion. One of the company's most consistently lucrative properties, ESPN has enjoyed increased affiliate revenue in 2013. Forbes recently called ESPN "the world's most valuable media property," estimating its worth at $40 billion.
So naturally, they need to fire people.
