Barstool Sports is feeling the pinch, and its CEO is saddened by the loss of employees at the company.
The somber week at the sports entertainment company was addressed in a statement from CEO Erika Ayers Badan, who praised the employees who got caught up in the layoffs. , formerly Twitter. “It’s sad we have to let some of those people go. I urge any company that can hire them to do so.Additionally, the Barstool CEO posted a picture of a memo that was sent to employees following the layoffs. “We are letting go a lot of good people today — people who worked hard and alongside us,” the memo read.
“It’s important that Barstool be able to stand up and sustain itself on its own. We are not going to have the luxury of so many people or so much help anymore which will change how we do things.Barstool has developed into a sports media behemoth since it was founded by Portnoy in 2003.He sold a majority of the company to The Chernin Group in 2016 before Penn Entertainment finalized its acquisition of Barstool in 2020. “I’ve been very clear.
“Having said that, we’re in a position it’s a no-brainer. It’s not like I have that moral – well you can’t do it because nobody will have jobs. We’ll all not have jobs. So we have to get back to a break-even thing. We’re losing a lot and it sucks.”
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