ESPN TO LAYOFF NEARLY 6 PERCENT OF ITS WORLDWIDE STAFF

Highlights

• Jimmy Pitaro, the chairman of ESPN told employees in a memo that the company has decided to lay off 300 employees, which is about 6 percent of its worldwide staff and not intending to fill 200 open positions

• As per the reports, this laying off will be affecting most divisions across the ESPN, though centred around broadcast production

• The broadcaster will be paying over $7 billion f....