Multiple ESPN employees reportedly took massive pay decreases to stay.
Some of ESPN's on-air talent reportedly agreed to take massive pay cuts to avoid getting laid off.
The self-described "Worldwide Leader" in sports laid off roughly 100 employees over the last week, including prominent on-air personalities like NFL insider Ed Werder, college basketball reporter Andy Katz and do-it-all reporter Britt McHenry.
The Sports Business Journal reports that some of ESPN's on-air talent took huge pay cuts - one reportedly agreed to a contract that would pay him 25 percent of his original deal - in order to avoid getting laid off.
From their report:
In the weeks before ESPN laid off 100 anchors, reporters and analysts, one anchor renegotiated a salary that paid one-fourth of the previous deal. The hope was that a smaller salary would keep the anchor from being laid off. It worked.
In March, more than a month before the layoffs were announced, a talent agent approached a rival network executive to see if there were any openings for his client. The agent said ESPN was looking to cut his client’s salary by more than 60 percent.
Similar stories played out for several other anchors and reporters, many of whom ultimately agreed to salaries that were more than 50 percent lower than they had been getting paid.
The people who got laid off by ESPN clearly aren't the only people affected by the changes the network is going through.