MLSE Lays Off 25% of Their Employees

This pandemic has brought hard times for businesses all over the globe, and the sports world is no different. Without games, fans attending those games, and the crazy amount of revenue it generates, some sports teams have had to make major changes. On Monday it was announced, the Toronto Maple Leafs' parent company, MLSE has laid off 25% of its employees, putting them in 'inactive' status.

The president and CEO of MLSE, Michael Friisdahl met with the media and had this to say about their decision:

These past nine months have been the most challenging we have ever experienced, and while we had hoped to see signs of a return to a more normal business operations by now, the effects of the second wave of the pandemic have forced us to brace for further uncertainty.

Our focus has been on doing everything possible to protect our employees and support our community, fans, and partners while mitigating the financial impact of the pandemic. As difficult as this time has been, we know that the strength of our company, teams and our community will allow us to return stronger than ever.

For more on the story, see the report from Bloomberg below.

Photo credit: Julian Avram/Icon Sportswire