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ESPN Cuts Jobs to Fund $60 M McAfee, Smith Deals

7/23/2026

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Summary

Story summary

ESPN chairman Jimmy Pitaro emailed staff on Tuesday that the company must make difficult job-impact decisions tied to the recent acquisition.
The memo pledged compassion for affected employees, noting most cuts stem from the acquisition’s integration.
Management said the layoffs free budget to invest in marquee talent such as Pat McAfee—potentially over $60 million a year—and Stephen A. Smith.

History

Historical Context

Disney closed its $71.3 billion purchase of 21st Century Fox on March 20 2019, prompting a restructuring that eliminated thousands of jobs, including many ESPN and ABC positions. The cuts reshaped the sports division’s significant budget, and today ESPN chairman Jimmy Pitaro’s layoff email echoes those 2019 reductions as the network reallocates funds to marquee talent.

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Story summary

ESPN chairman Jimmy Pitaro emailed staff on Tuesday that the company must make difficult job-impact decisions tied to the recent acquisition.
The memo pledged compassion for affected employees, noting most cuts stem from the acquisition’s integration.
Management said the layoffs free budget to invest in marquee talent such as Pat McAfee—potentially over $60 million a year—and Stephen A. Smith.

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