ESPN laying off hundreds
ESPN is laying off a large number of employees on Tuesday, according to report from Deadspin. A source told the website that the amount of layoffs could be in the hundreds.
ESPN (Entertainment and Sports Programming Network) issued a statement on the layoffs, via Richard Deitsch of Sports Illustrated.
"We are implementing changes across the company to enhance our continued growth while smartly managing costs. While difficult, we are confident that it will make us more competitive, innovative and productive." The Huffington Post
HIGHLIGHTS
ESPN will eliminate jobs from its workforce of 7,000 employees. USA Today
ESPN is 80% owned by Disney (Hearst owns the other 20%), which has gone division by division to cut costs over the past month or so. deadline.com
Layoffs have already hit the Walt Disney Studios unit (150 layoffs in film, theatrical and music departments) and shuttered LucasArts, the video game division of Disney’s newly acquired Lucasfilm. deadline.com
A laid-off ESPN employee writes: “I was laid off from ESPN today (Tuesday) after 9 and a half years. Completely out of the blue, no warning at all. I was told it was 10% across the board, which would be roughly 400. I was told the reason was they needed to make their profit margin and they chose to do that via layoff of staff.” Deadspin
FACTS & FIGURES
Employers added 165,000 workers to nonfarm payrolls in April, the Bureau of Labor Statistics said on May 3, and unemployment fell to 7.5 percent from 7.6 percent, the lowest since December 2008. The Huffington Post
Though the economy has added about 6 million jobs since the labor market bottomed in February 2010, the total number of nonfarm payroll jobs in the U.S. is still nearly 3 million lower than at its peak in January 2008, early in the recession. That makes this easily the worst job-market recovery since the end of World War II. The Huffington Post
The harsh truth about U.S. unemployment is that more and more people are giving up on work altogether, or relying on disability or other entitlement checks instead of paychecks - and those people aren't counted in the unemployment number. Market Oracle
This is why a more accurate number to measure U.S. unemployment is the U-6 rate, which counts total unemployed, all individuals marginally attached to the labor force and total employed part-timers for economic reasons. Market Oracle
The U-6 unemployment rate rose to 13.9 percent in April. The African-American unemployment rate was 13.2 percent. And the unemployment rate for people with less than a high-school diploma was 11.6 percent. The Huffington Post
AT/ISH
ESPN is laying off a large number of employees on Tuesday, according to report from Deadspin. A source told the website that the amount of layoffs could be in the hundreds.
ESPN (Entertainment and Sports Programming Network) issued a statement on the layoffs, via Richard Deitsch of Sports Illustrated.
"We are implementing changes across the company to enhance our continued growth while smartly managing costs. While difficult, we are confident that it will make us more competitive, innovative and productive." The Huffington Post
HIGHLIGHTS
ESPN will eliminate jobs from its workforce of 7,000 employees. USA Today
ESPN is 80% owned by Disney (Hearst owns the other 20%), which has gone division by division to cut costs over the past month or so. deadline.com
Layoffs have already hit the Walt Disney Studios unit (150 layoffs in film, theatrical and music departments) and shuttered LucasArts, the video game division of Disney’s newly acquired Lucasfilm. deadline.com
A laid-off ESPN employee writes: “I was laid off from ESPN today (Tuesday) after 9 and a half years. Completely out of the blue, no warning at all. I was told it was 10% across the board, which would be roughly 400. I was told the reason was they needed to make their profit margin and they chose to do that via layoff of staff.” Deadspin
FACTS & FIGURES
Employers added 165,000 workers to nonfarm payrolls in April, the Bureau of Labor Statistics said on May 3, and unemployment fell to 7.5 percent from 7.6 percent, the lowest since December 2008. The Huffington Post
Though the economy has added about 6 million jobs since the labor market bottomed in February 2010, the total number of nonfarm payroll jobs in the U.S. is still nearly 3 million lower than at its peak in January 2008, early in the recession. That makes this easily the worst job-market recovery since the end of World War II. The Huffington Post
The harsh truth about U.S. unemployment is that more and more people are giving up on work altogether, or relying on disability or other entitlement checks instead of paychecks - and those people aren't counted in the unemployment number. Market Oracle
This is why a more accurate number to measure U.S. unemployment is the U-6 rate, which counts total unemployed, all individuals marginally attached to the labor force and total employed part-timers for economic reasons. Market Oracle
The U-6 unemployment rate rose to 13.9 percent in April. The African-American unemployment rate was 13.2 percent. And the unemployment rate for people with less than a high-school diploma was 11.6 percent. The Huffington Post
AT/ISH
the currant 
