Why is ESPN laying off reporters? Explaining network's cut-throat list of firings

ESPN has laid off approximately 20 on-air personalities, including several well-known commentators, analysts, and journalists.

These personnel cuts are part of a broader cost-cutting strategy by Disney, the parent company, which aims to streamline its operations and reduce expenses. Disney's annual operating profit witnessed a significant growth of 56% in 2022, reaching $12.1 billion.

In an official statement, the network acknowledged the need to reduce costs specifically in the area of salaries for public-facing commentators. As a result, job cuts were implemented, impacting some of the network's most prominent figures.

Todd McShay, a renowned analyst who had been with the network for 17 years, was among the individuals affected by the recent round of layoffs. McShay joined the network in 2006 as an analyst and has been a prominent part of their on-air draft coverage since 2009.

Besides McShay, the sports network has also terminated the contract of Keyshawn Johnson, a former wide receiver for the Tampa Bay Buccaneers.

The company plans to negotiate lower salaries for some contracts or let them expire naturally.

Pat McAfee lands mega contract with ESPN amid layoffs

Patt McAfee signed a huge deal amid layoffs

In the midst of the ongoing layoffs, the network has made a significant move by signing Pat McAfee to a lucrative five-year contract worth $85 million.

The deal, set to commence in the upcoming fall, will mark the next chapter of "The Pat McAfee Show" across multiple platforms. McAfee's show will be featured on ESPN's cable channel, their free YouTube channel, and their direct-to-consumer streaming service, ESPN+.

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This substantial agreement with the sports network entails an annual salary of around $17 million, along with McAfee retaining his weekly analyst role on the renowned "College Football Game Day."

Notably, McAfee will have full creative control over his show, including the freedom to invite guests like NFL Network insider Ian Rapoport.

While McAfee's addition to the Disney-owned network is an exciting development, it comes at the cost of parting ways with some beloved and iconic figures. This has left many sports fans disappointed by the loss of familiar voices and personalities.