Shock over major lay-offs at sport websites
The economic impact of COVID-19 continues to affect both new and legacy media.
Management at The Athletic told its staff on Friday that it would reduce it by eight per cent and implement salary reductions, The Post confirmed.
Meanwhile, Sports Illustrated executives told its staff that all non-union employees would be required to take a 15-percent pay cut through the end of the year and parent company, Maven, would negotiate with SI's union about the percentage of cuts its members would endure, The Post has learned.
Along with The Athletic and Sports Illustrated, Vox Media sports site SB Nation saw a number of editorial-side staffers accept buyouts.
As for The Athletic, the four-year-old sports subscription start-up, has greatly expanded as it grows, but, like other media outlets, it is now adjusting because of the economic impact of the shutdown of most sports during COVID-19.
Rough day at The Athletic. Several of my colleagues laid off. Been through this many times in my career. This feels the worst, all things considered.— Marcus Thompson (@ThompsonScribe) June 5, 2020
Maya Angelou's words come to mind: "be a rainbow in somebody's cloud." So to my colleagues, I'm down to help plot your next move.
Very sorry to hear about the layoffs/buyouts at the Athletic and SB Nation. I wish you all the best.— Derek James (@DerekJamesNBA) June 5, 2020
Axios first reported the news. It said that 46 people would be let go. A source told The Post that the audio department would be impacted as a result of podcast advertising being down. One of its original big hires, Armen Keteyian had already left months ago.
Sources told The Post that those making $55,000 to $150,000 would receive a 10 per cent decrease, while $150,000-199,999 would take a 15 per cent cut.
Those with salaries more than $200,000 would take a 20 per cent cut. The cuts are through the end of this year.
A spokeswoman confirmed the news of the lay-offs and the salary reductions.
This article originally appeared on the NY Post and was reproduced with permission.
Originally published as Shock over sport websites' major lay-offs
Well, The Athletic laid off a large number of extremely talented people today. And also me. I’m sad to leave, but all in all it’s been a terrific run so I have no complaints. To all of you who read along, it’s been a privilege to have you as an audience. ❤️— Sean Gordon (@MrSeanGordon) June 5, 2020
Saddened so many friends lost their jobs today that I’m doing a mass tweet. These are talented, hardworking people who have produced great reporting and writing. Please support journalism.— Nick Cotsonika (@cotsonika) June 5, 2020