Some ESPN Talent Took Huge Pay Cuts to Keep Jobs

Employees of the worldwide leader reportedly took 25-50% cuts to remain on staff.

Sacrifices are sometimes made in order to keep something you love.

 

Some employees at ESPN learned that the hard way. When the worldwide leader in sports attempted to cut its budget by letting go of some of the most recognizable names in sports journalism, some people on staff attempted to bargain. According to the Sports Business Journal, some ESPN employees offered to take massive pay cuts in order to save their jobs. 

 

Per SBJ:

 

"In the weeks before ESPN laid off 100 anchors, reporters, and analysts, one anchor renegotiated a salary that paid one-fourth of the previous deal. The hope was that a smaller salary would keep the anchor from being laid off. It worked.

 

In March, more than one month before the layoffs were announced, a talent agent approached a rival network executive to see if there were any openings for his client. The agent said ESPN was looking to cut his client's salary by more than 60%.

 

Similar stories played out for several other anchors and reporters, many of whom ultimately agreed to salaries that were more than 50% lower than they had been getting paid."

 

Desperate times call for desperate measures. Many of those who stayed may have lower salaries now but at least they can keep their dream of working at ESPN alive, if only for this moment.

Event Date: 
Wednesday, May 3, 2017 - 11:01

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