Mass layoffs hit Sports Illustrated staff
The publisher of Sports Illustrated is laying off much of the storied magazine’s entire staff. The news, first reported by Front Office Sports, came less than 24 hours after publisher The Arena Group announced “a significant reduction in its workforce,” comprising 100 employees.
The publisher of Sports Illustrated is laying off much of the storied magazine’s entire staff.
The news, first reported by Front Office Sports, came less than 24 hours after publisher The Arena Group announced “a significant reduction in its workforce,” comprising 100 employees. Arena said it continued to manage “substantial” debt and recently missed payments, and that the layoffs were part of “cost-cutting measures to initiate a transformative shift towards a streamlined business model.”
According to FOS, Sports Illustrated’s parent company, Authentic Brands Group, has sought to revoke Arena’s license to publish SI after Arena missed a payment.
Richard Deitsch of The Athletic separately tweeted Friday an image of an email sent out to workers that said “staff” who worked for the Sports Illustrated brand were being laid off.
The union representing SI’s staff said in a tweeted statement that it had been notified of Arena’s intention to “lay off a significant number, possibly all” of its union-represented staff.
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