ESPN to Experience More Layoffs

ESPN employees are preparing to face another round of layoffs.

The network is planning on letting 100 staffers go. The layoffs will hit employees from various divisions in the company including on-air talent and executives.

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Currently, ESPN has about 8,000 employees. The layoffs are expected to commence after the Thanksgiving holiday, according to The Hollywood Reporter.

Last April, the network pink-slipped 100 on-air personalities. Given the stature and length of employment that some of the reporters and journalists had, it was a highly publicized incident.

At that time the company said: "A necessary component of managing change involves constantly evaluating how we best utilize all of our resources, and that sometimes involves difficult decisions."

Also, in 2015, ESPN laid off about 5 percent of its workforce for letting 300 people go.

Due to dropping subscription revenue and escalating rights fees, ESPN has been in the process of restructuring.

The network reached a new deal with the NBA in 2014 worth $1.4 billion annually, which was an increase of almost 200 percent in comparison to the previous agreement. Around that same time, ESPN's subscriber base was plummeting from more than 100 million in 2011 to around 87 million this year.

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