Sports Illustrated Mass Layoffs Of Employees Wreaks Havoc
Sports Illustrated Mass Layoffs Of Employees Wreaks Havoc. One of the most iconic sports magazines in the world, is facing a severe crisis as recent mass layoffs have sent shockwaves through the industry. The publication, known for its high-quality journalism and captivating sports photography, has been forced to downsize due to financial troubles. This unfortunate turn of events has left many wondering about the future of this beloved magazine and the impact it may have on the sports media landscape.
Sports Illustrated: Mass Layoffs Signal Trouble
Sports Illustrated Mass Layoffs Of Employees Wreaks Havoc.
The recent mass layoffs at Sports Illustrated have communicated that the magazine is in deep trouble. Once a powerhouse in the industry, the publication has struggled to adapt to the digital age.
According to USA Today, “Sports Illustrated has been owned by Authentic Brands Group since 2019 but sold its publishing rights to The Arena Group. This week, The Arena Group also announced a significant reduction to its workforce of 100 employees.”
The layoffs have affected almost every department at the world-renowned publication. Union representatives for SI are trying to salvage some of the jobs.
However, because of the alleged issue with ABG, things may only get worse. The layoffs could result in talented journalists and photographers being let go.
In December, SI’s CEO Ross Levinsohn was fired by the Arena Group. And, ABG claimed he was being fired so that the company could, “improve the operational and revenue of the company.'”
After Levinsohn was fired, Manoj Bhargava replaced him as interim CEO. According to ABC News, Operations President and COO Andrew Kraft were also terminated.
Also, media president Rob Barrett and corporate counsel Julie Fenster were let go. This was a huge shake-up at the SI, which left other employees wondering if their positions were next.
The downsizing has also raised questions about Sports Illustrated’s ability to maintain its high journalism and visual storytelling standards.
With fewer resources and a more minor team, the magazine may struggle to produce the same in-depth analysis and captivating imagery it is known for.
Our statement on today’s mass layoffs at Sports Illustrated pic.twitter.com/tQjJdoHP4p
— Sports Illustrated Union (@si_union) January 19, 2024
The Fallout From Sports Illustrated Could Be The End Of It’s Publication
Sports Illustrated has always been on the cutting edge of reporting stories. Some of the most famous athletes in the sport have been on its cover.
One of the most famous faces on SI was the legendary fighter Muhammad Ali. He has graced the cover of SI more than any other.
In addition, NBA legends Michael Jordan and LeBron James have been featured. Lastly, the iconic Golfer Tiger Wood has also been featured numerous times.
At this time, it is not certain if SI will close completely. If so, it will be the end of the era of a well-read sports magazine.