San Francisco Giants Lay Off 10 Percent of Employees Due to Pandemic Hurting Revenues
SAN FRANCISCO (CBS SF) -- The San Francisco Giants laid off 10% of the team's full-time employees Thursday, blaming the dismissals on economic hardships caused by the COVID-19 pandemic.
The team fired 50 employees Thursday, distributed throughout the organization, including the baseball operations department, though it did not say how many were let go per department. Those without contracts will have their employment end on Oct. 31.
"We are providing a number of employee support programs to those impacted employees, including severance, healthcare and outplacement assistance," the team said in a statement.
The layoffs come as the COVID-19 pandemic continues to keep baseball fans from watching the games in person, hurting the team's revenue. According to the San Francisco Chronicle, about 60-70% of the team's revenues come from ticket sales, parking and concessions.
To alleviate financial impact of the layoffs on former employees, the team extended their health insurance benefits for as long as a year, depending on how long they worked for the Giants.
Signs of impending layoffs were seen back in the Spring, when the COVID-19 pandemic hit. The Giants, like many other teams, furloughed about 60 employees. The Oakland Athletics furloughed 100 employees back in May.