$50,000,000,000 Worth Media Giant Axes 22 Year Loyal NFL Legend Amidst Massive Forced Exodus

The Giant Media network is on a layoff spree. The network is about to let go of many of its big shots in an attempt to cut down its expenditures. ESPN, the Media titan with a massive net worth of $50 billion, informed on Friday morning all of its employees about the impending cuts through an internal website. Van Gundy, Kellerman, Johnson, Kolber,  “NFL Countdown” analysts Matt Hasselbeck and Todd McShay, college basketball analyst LaPhonso Ellis, and “SportsCenter” anchor Ashley Brewer are some of the big names who got slashed during the massive purge.

According to the Front Office Reports, another high-profile figure, who has been with the network for 22 years, is also set to be axed.

NFL legend among the layoffs

Steve Young, the former Super Bowl MVP and Pro Football Hall of Famer is facing layoff. Despite his longstanding stint as an analyst on ‘Monday Night Countdown’ and other NFL studio shows since 2000,  the network has decided to ditch him.

The former 49ers QB  began working part-time with ABC and ESPN after his retirement from the 49ers in 1999. He joined as a full-time member of ESPN in 2001.

As per the source, the affected employees were informed about the termination through calls on starting at 9 am that ‘they no longer will be contributing to ESPN’. Most of these axed employees will be compensated through buyouts of their contracts, but cease to appear on the network.

The huge purge is aimed at cutting down salary expenditures and meeting the financial goals of the network.

To cut down the dough

The media giant with over 5000 employees across the world had stated about their decision to lay off a significant portion of their workforce.

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“Given the current environment, ESPN has determined it necessary to identify some additional cost savings in the area of public-facing commentator salaries, and that process has begun. This exercise will include a small group of job cuts in the short-term and an ongoing focus on managing costs when we negotiate individual contract renewals in the months ahead,” said ESPN in a statement.

 “These difficult decisions, based more on overall efficiency than merit, will help us meet our financial targets and ensure future growth,” they added.

However, ESPN management under Jimmy Pitaro decided to sack the high-paid on-air employees so that the jobs of the essential behind-the-scene workers could be saved.

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