ESPN Laying Off HUNDREDS

[QMany]

Thank you for quoting "sunk cost" to me. I know what the f*ck it means. It doesn't change the principle.

[sd'sker]

have not seen anything to substantiate this claim. quite the opposite. seems like the employees are doing quite well for their company.

 

there was a time where any form of an economy was to provide jobs to people. the idea was that the freer the markets, the greater the liberty. now, neither of those are true and the only goal is to get shareholders rich. this mba mindset is troubling as a weakened workforce is the greatest threat to the overall health of the economy. but, hey, we should get over it. at least the opulent minority who own shares are getting taken care of.

That has always been the only goal. Corporations don't exist to boost the economy or to hand out jobs to those who could use one. They exist to make money and it is their right to do whatever they want within the law to make as much of it as possible. That has always been the case.

you have just effectively demonstrated that you know nothing about the history of corporations or economic theory.

[MLB 51]

Maybe they should do away with the Long Whorn Network.

[ZRod]

Maybe they should do away with the Long Whorn Network.

I'm surprised no one's mention that yet. 300 mil and a huge bust so far seems like something needs to be changed there.

[MLB 51]

Maybe they should do away with the Long Whorn Network.

I'm surprised no one's mention that yet. 300 mil and a huge bust so far seems like something needs to be changed there.

Stupid idea.

[ADS]

have not seen anything to substantiate this claim. quite the opposite. seems like the employees are doing quite well for their company.

 

there was a time where any form of an economy was to provide jobs to people. the idea was that the freer the markets, the greater the liberty. now, neither of those are true and the only goal is to get shareholders rich. this mba mindset is troubling as a weakened workforce is the greatest threat to the overall health of the economy. but, hey, we should get over it. at least the opulent minority who own shares are getting taken care of.

That has always been the only goal. Corporations don't exist to boost the economy or to hand out jobs to those who could use one. They exist to make money and it is their right to do whatever they want within the law to make as much of it as possible. That has always been the case.

 

Spare me the bullsh*t MBA rhetoric. They do teach forecasting and business ethics also, right? Forecast better! They brought these 400 on because they forecasted the need. They are dropping them because they made policy decisions to spend crazy amounts of money elsewhere (billion dollar contracts and unnecessary $125 million studios) and now need to cut.

http://www.investope.../s/sunkcost.asp

 

How were those 400 employees costing a billion dollar monopoly like ESPN money?

Wouldn't know, but ESPN could have profits of a billion, million, zero, or negative one billion and the cost of those employees is the same. You can be mad at them all you want for firing all those people, but don't make this an issue of them making "too much money" or something like that. Like I already said, businesses exist to make money. If ESPN thinks they can make more of it without those 400 people, then more power to them.

 

That's just how the system works. If you don't love it, leave it.

I don't think anyone said thi is an issue of making too much money, it's a matter of ethics.

[QMany]

I don't think anyone said thi is an issue of making too much money, it's a matter of ethics.

KJ doesn't understand that. He hasn't taken that class yet, so he can't regurgitate the text book to us.

[BigRedBuster]

Would it have been more ethical to not hire these 400 people in the first place?

[ADS]

The way they were fired was unethical imo

[StPaulHusker]

My guess is these are the low-level research types. The people who dig up obscure stats and do odd jobs around the office.

Like hook up with the on-screen talent?

[QMany]

I moved 9 months ago for my job. I would not have moved here if not for this job. I would not be happy if my firm made some ridiculous capital expenditures, called them sunk costs, and cut my position because of their bad budgeting. I am single and 26. I can't even think of that happening to me if I had uprooted a family.

[BigRedBuster]

I wouldn't be happy either. But, you can sit and stew about it and be pissed or go find another job.

[QMany]

They said this is all cause of the money ESPN invested in its future—SEC Network, new digital center, NFL rights, etc. They expect ESPN to be extremely profitable in the future but they have to cut costs now to make sure they have enough money over the next few years while so much money is tied up in investing in the future.

[ADS]

I wouldn't be happy either. But, you can sit and stew about it and be pissed or go find another job.

Sometimes thats easier said than done

[BigRedBuster]

If those projects are successful, will those cause them to need to hire more people in the future?