Despite what he called a record year for ESPN, the sports network's top executive told employees that as many as 200 jobs could be cut in the next year as the economy worsens, according to a report by the Associated Press.
ESPN and ABC Sports president George Bodenheimer, in an address to employees, also said that he is instituting a hiring freeze and won't give raises to top execs, according to the AP. Bodenheimer said that the job cuts will mostly be open positions that haven't been filled, but did not rule out the possibility of future layoffs.
"The economy is worsening and ESPN and our business partners, especially some of our major advertisers, are feeling the impact more acutely than at any point in our lifetime," Bodenheimer said, according to AP.
He added that he is ordering a review of operations over the next few months to find ways to save money. And although top executives will not see pay hikes, he added that lower level employees may receive merit raises.
"Our goal remains to come out of this period stronger," Bodenheimer said.
