While ESPN hasn’t had to furlough employees yet, the network is asking their on-air personalities to join their executives in taking temporary salary pay cuts.
- Variety is writing that ESPN is asking some of their network personalities to join with executives and take pay cuts.
- This means salary cuts would affect some of the biggest personalities on the network such as Stephen A. Smith and Mike Greenberg.
- According to a source close to the matter, ESPN is asking for a 15% reduction to salaries for a three month period.
- Executives are hoping to avoid having to furlough employees who don’t earn as much as the big name commentators.
- Earlier this month, ESPN’s parent company, Disney announced their executives would be taking pay cuts, followed by the decision to furlough non-essential employees at their parks and resorts.
What they’re saying:
- ESPN in a statement: “We are asking about 100 of our commentators to join with our executives and take a temporary salary reduction. These are challenging times and we are all in this together.”
- Bob Iger has reportedly returned to his previous role as CEO of The Walt Disney Company.
- In a March filing with the U.S. Securities and Exchange Commission, Disney noted how the COVID-19 crisis was impacting many areas of their business.
- ESPN has announced they will partner with the NFL once again for this year’s 2020 NFL Draft. Coverage of the three day event will be presented on ESPN, ABC, and NFL networks.