ESPN lays offs some of its employees to control costs(Amended/ESPN Employee/Update)

Washington, May 23 (ANI): Sports media giant ESPN has given pink slips to some of its 7,000 employees as a cost cutting measure.

In a statement, the Connecticut-based company said it is implementing the changes to enhance continued growth, while smartly managing costs.

ESPN said it is confident that it would be more competitive, innovative and productive after this decision.

According to a CNN report, about 400 employees have been given pink slips.

ESPN has not commented on how many people have been sacked.

ESPN operates eight domestic networks and 27 around the world, and is 80 percent owned by Disney. (ANI)

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