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ESPN slashing 150 more jobs

ESPN announced Wednesday that it will lay off approximately 150 employees, with the majority of the eliminated jobs in "studio production, digital content, and technology," per network president John Skipper's memo to the staff.

This is ESPN's third round of layoffs since October 2015, when the network cut approximately 300 employees, The Washington Post notes. Another round of layoffs in April cut around 100 employees, many of whom were journalists or on-air talent.

ESPN has suffered a loss of 13 million cable subscribers since 2011, but it is locked into expensive contracts with organizations like the NFL and NBA. It employs around 8,000 people. Read more about how ESPN went from powerhouse to bloodbath here at The Week.