MLB successfully navigated its way through a pandemic-shortened 2020 season to the World Series, but the league suffered a $3.1 billion loss. Teams have shed hundreds of jobs — with some not expected to return.
The Atlanta Braves are among the teams that laid off employees after experiencing a 95% year-over-year revenue dip April to June. Other teams that suffered large layoffs include the Boston Red Sox, Chicago Cubs, Oakland A’s and San Francisco Giants.
Offseason layoffs and furloughs aren’t contained to MLB either as leagues combat the loss of game-day fan revenue — up to 70% for some teams. Earlier in the pandemic, other leagues and teams dealt with furloughs, layoffs and pay cuts.
MLB 2020 Expectations vs. Reality:
$10 billion — Expected 2020 Revenue
$10.2 billion — Expected 2020 Expenses
$3 billion — Real 2020 Revenue
$6.1 billion — Real 2020 Expenses