
ESPN Asks Talent to Take Voluntary Pay Cuts
Honestly surprised this hadn’t happened already.
Today a couple of outlets reported that ESPN is asking talent on the higher end of the pay scale to take a reduction as we enter week number whatever this is of the Coronavirus crisis.
John Ourand at the Sports Business Journal:
ESPN has asked its 100 most highly paid commentators to take voluntary 15% pay cuts over the next three months, as the network deals with the financial implications from the sports world shutting down due to the coronavirus pandemic, SBJ has learned.
ESPN executives, including Connor Schell, Norby Williamson and Stephanie Druley, spent the morning calling the network’s commentators and their agents to ask them to take what is being described as voluntary pay cuts. It is not known yet how many of the 100 commentators have agreed to the salary reductions, which ESPN has said would be in place for the next three months.
Ourand says ESPN executives are already taking pay cuts up to 30%.
At The Washington Post, Ben Strauss had a couple of other tidbits:
“Today, I am asking you something that I never imagined I would,” Pitaro wrote to the selected employees Monday in an email that was shared with The Washington Post. “We are reaching out to about 100 of our on-air talent and commentators to ask that, at this time, you join our ESPN executives in taking a temporary reduction in pay. We are requesting that you take this reduction on for a three-month period.”
The pay cut amounts to 3.75 percent of annual salary, which Pitaro wrote could help save the jobs of more financially vulnerable colleagues. The salary reduction would affect some of ESPN’s best-known talent, like Stephen A. Smith, who reportedly earns around $8 million. The pay cut has been requested of anyone making more than $500,000, according to two people familiar with the situation.
If people like Stephen A and Mike Greenberg (reportedly makes $6.5 million) took pay cuts, they could prop up a large portion of their coworkers during the crisis. Even if they gave up that 3.75% of annual salary they’d still be quite comfortable, however I am told that it is insensitive to tell other people what to do with their money and blah blah.