ESPN Asks 100 Commentators To Take Temporary Salary Cuts As Live Sports Vanishes And Furloughs Dog Disney Divisions
ESPN has requested its highest-paid commentators to take pay cuts because the Disney universe continues to regulate to the widespread financial carnage of the coronavirus pandemic, together with a world with out stay sports activities.
“We’re asking about 100 of our commentators to affix with our executives and take a brief wage discount. These are difficult occasions and we’re all on this collectively,” ESPN mentioned in an announcement Monday.
The corporate declined remark past that, however now we have realized that the request is for a three-month, 15% wage minimize for the highest-paid commentators as ESPN makes an attempt to keep away from additional furloughs and proceed weekly paychecks for different ESPN staff who could also be extra financially in danger.
Pay cuts and furloughs have been transferring throughout Disney divisions. On March 30, Disney advised its workers that govt chairman Bob Iger will forgo his complete wage, that new CEO Bob Chapek will take a 50% pay minimize, and that different executives would see reductions on a sliding scale as of April 5. VPs, SVPs, and EVPs and above have been in for cuts of, respectively, 20%, 25% and 30%.
Then on April 2 the enormous conglom introduced it might furlough all staff whose jobs “weren’t instantly needed” as of April 19, though it might proceed to offer well being advantages and pay premiums. The furloughs started on the parks division which is closely hit with parks closed and income vanished. However they’ve been biking throughout the remainder of the corporate, hitting the movie studio final week, particularly distribution.
Over the weekend, Disney and unions mentioned 43,000 staff will probably be furloughed at Walt Disney Phrase in Florida, following agreements to furlough hundreds of others on the California parks.