Walt Disney Co.’s ESPN says it is cutting staff
Just one week after touting its strength to advertisers and declaring it wasn’t worried about new competition from Fox Sports, ESPN is cutting its staff.
The moves are part of an overall cost-cutting effort by ESPN parent Walt Disney Co. Earlier this year, Disney trimmed jobs in its movie and consumer products divisions. It also made cuts in its video game unit and shut down LucasArts.
Cuts at ESPN are rare. The sports cable empire is known for having deep pockets and continues to spend heavily for sports rights.
-- Joe Flint, Los Angeles Times