BY: Adam Gavriel
Even the giants are not immune to the dwarfing economy.
Recently, ESPN – “the worldwide leader in sports” – announced that they would be laying off 400 employees. While employment agencies everywhere are champing at the bit to get a hold of this new talent that is hitting the market, ESPN and Disney are trying to keep their bottom line positive.
According to an article from Forbes.com, these 400 employees represent near 5% of ESPN’s total workforce. The article continues to say that ESPN continues to be a victim of its own size, as too many investments threaten to cripple their profit margin.
Some of these investments include the U.S. Open, and Wimbledon, two tennis tournaments that will cost ESPN $110 million a year to broadcast. ESPN will also pay over $1 billion per year to broadcast college football regular season and bowl games. And between the four major American sports (Football, Baseball, Basketball, and Hockey) ESPN will shell out over $3.5 billion – oh yeah, and that includes $0 going to hockey.
However none of that should scare the executives at ESPN who will generate $3.3 billion from ad sales, and nearly double that from affiliate fees. Unfortunately, the call came down from Disney to make sure that ESPN’s bottom line stays in the black, and they are willing to cut with nearly 5% of their human capital to accomplish this task.
The American sport industry is a huge landscape, and one that ESPN has dominated for some time. That doesn’t mean that they are immune to the struggling American economy though. And if ESPN is struggling, then you have to imagine things aren’t that close to a positive swing, even if the numbers are crawling – and trying to pull you – in a different direction.
As an employment agency and search firm, if you are an former-employee of ESPN and have been affected by these layoffs, we want to hear from you TODAY. At Crossroads Consulting, we are the only search firm putting the ‘human’ back into ‘human resources.’
We are currently scanning the market to fill our nearly 50 job openings as soon as we can, and we’d love to receive your resume. If you’ve been out of the job searching game for a little while and are not confident in your resume writing skills, we can help you there too with our recommended resume service.
Remember, most employment agencies will have you submit your resume to their database where it has a chance of never being viewed. With Crossroads Consulting, your resume will immediately enter the inbox of our recruiters, who will get back to you about the position the very next day.
ESPN may have to learn the hard way how important human capital is. At Crossroads Consulting, we know the value of the human aspect in today’s economy, and we want to pay it forward for YOU.