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Days after warning his Barstool Sports activities staff to “step the f–okay up” proprietor Dave Portnoy has agreed to axe 25% of the corporate’s workers. [Image: Shutterstock.com]
Barstool Sports activities proprietor Dave Portnoy has less-than-tactfully instructed his staff to “step the f–okay up” simply days forward of his agency axing 25% of its workers.
Information of the mass Barstool job cuts emerged Tuesday, simply weeks after Portnoy purchased Barstool again from Penn Leisure for $1. One of many workers let go, Barstool Chicago worker Hannah Tran, took to Twitter a pair days later to share her dismissal:
Portnoy used his sportsbook’s radio present earlier this week to state he hates firing folks, although listeners wouldn’t know that from the vitriol in his voice. Regardless of warning listeners “layoffs and cuts” had been coming, he mentioned axing workers was “the worst factor to f–king do,” whereas on the similar time mocking an worker for being upset {that a} colleague was laid off.
Penn v Portnoy: A tradition conflict
Based on Thursday’s New York Publish, Barstool at the moment has round 430 members of workers. The Publish acknowledged 300 staff joined the sportsbook from the time Penn acquired Barstool for a complete of $551m in 2020, up till the 2 manufacturers parted methods early August.
shock-jock tradition didn’t translate into the mass enchantment Penn needed
Much like FOX Wager, the not too long ago departed offspring of the poisonous partnership between Fox and Flutter, the Penn-Portnoy mixture has been jarring from phrase go. Barstool’s shock-jock tradition didn’t translate into the mass enchantment Penn needed, with “violent intercourse” allegations towards Portnoy in November 2021 sending Penn shares plummeting.
What subsequent?
Because the mud settles, Penn expects to kiss goodbye to as much as $850m in handing Barstool again to Portnoy. This loss is, nonetheless, maybe softened by the prospects of a brand new rebranding deal for Penn’s sports activities betting enterprise with ESPN.
Portnoy, in the meantime, tried to rally his workers forward of the job cuts, by encouraging them “again to the pirate ship,” and promising by no means to promote Barstool once more. If his motivational fashion in any respect mirrors his perspective in his movies concerning the layoffs, via, it’ll take fairly the trouble to spice up morale.
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