Sports Illustrated’s Ailing Publisher Cuts Jobs, Guild Says
Sports Illustrated magazine.
Photographer: Joe Raedle/Getty Images
The publisher of Sports Illustrated magazine is planning to fire a significant number of employees, including possibly all of its unionized staff, the NewsGuild said Friday in a post on social media.
The layoffs are tied to mounting financial problems at the company, Arena Group Holdings Inc., which is in default on a note from lenders and on payments to Sports Illustrated owner Authentic Brands Group Inc.