Business and Deals

ESPN to Lay Off Hundreds

First major staff cuts since 2009 5/21/2013 01:29:44 PM Eastern

ESPN is laying off a large portion of its staff on Monday, its first major reduction in staff since 2009.

Deadspin, which first reported the staff cuts Monday morning, said that the number could be as high as 400 employees, although a source indicated that number was high. ESPN would not say how many are being let go.

The layoffs come after ESPN has agreed to a bunch of new rights deals, with all of them rising in costs. Deadspin is reporting that most of the layoffs are coming in the technology sector.

"We are implementing changes across the company to enhance our continued growth while smartly managing costs," said the network through a statement. "While difficult, we are confident that it will make us more competitive, innovative and productive."

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