Dedicated John Clayton done with his ESPN segment as layoffs loom at Sports Illustrated now too

John Clayton is leaving ESPN as part of the sweeping layoffs at the Worldwide Leader in Sports, sources tell Sporting News.

He's done with his segment.

Up next, heads might roll at Sports Illustrated and other Time properties. Time Inc. hired McKinsey & Co. to help with ‘reengineering’ according to Keith J. Kelly:

Translation: Layoffs loom and properties likely will be sold.

One source said that executives overseeing Time, People, Sports Illustrated and InStyle are being told to not mention McKinsey directly in talks — but are referring to it internally as “K2.”

One source said that as part of the reengineering, the company plans to offer a voluntary round of buyouts to employees with 10 or more years’ experience. Depending on how many step forward, it would then go to non-voluntary layoffs, the source said.

Time Inc. is said to be looking for $100 million in cost cuts over the next year.

Bad times at Time. Talk of layoffs raised the stock to $12.58 today.

Please follow Bob's Blitz on Twitter for exclusive Blitz stories.

*Return to Bob's Blitz Homepage -- *Contact Bob's Blitz -- ⓒ2008-2018

Cookies & Privacy Policy -- About Us -- Copyright Policy -- Secure Version