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Daniel Cancian Sharecast News
23 Sep, 2015 14:16 23 Sep, 2015 14:33

ESPN reportedly to axe 200-300 jobs after budget cuts

ESPN, one of the world’s biggest sports networks, is set to cut between 200 and 300 jobs over the coming months, according to a report in the USA Today newspaper.

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According to USA Today’s The Big Lead blog, the broadcaster, a joint venture between The Walt Disney Company and Hearst Corporation, will slash its workforce after being instructed by its parent company to cut $100m from next year’s budget, ahead of an even bigger cull in 2017.

In a statement released on Wednesday, the Connecticut-headquartered broadcaster declined to confirm the reports.

However, it said that it "has historically embraced evolving technology to smartly navigate our business. Any organizational changes will be announced directly to our employees if and when appropriate".

Last month, Walt Disney’s chief executive Bob Iger revealed ESPN had seen a decline in subscribers but remained confident the TV network could turn its fortunes around.

Walt Disney shares were up 0.23% at 1415 BST on Wednesday.

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