ESPN, the so-called worldwide leader in sports television, laid off over 100 on-air employees Wednesday, causing both cheers and jeers on social media and in other news outlets. This layoff comes less than two years after the sports media giant let go of over 300 employees in 2015.
While many are surmising an underlying cause for these reductions, the simple fact is the company is shedding operating costs.
ESPN’s drastic cost-cutting measures come amidst worry that America’s cable and satellite TV subscription cancellation trend will continue. The network has lost over 7 million subscribers over the last three years, and that trend doesn’t appear to be reversing as “cord-cutting” becomes more prevalent.