Unfortunately, layoffs are continually a story in this economy and James Dolan’s MSG company is no exception. Dolan recently split the company into MSG Entertainment and MSG Sports, which covers Knicks and Rangers. Both companies have been hit hard by the COVID-19 pandemic, and now both companies are laying off a substantial portion of their workforce, according to the New York Post.
“Its subsidiary, MSG Sports, owner of the New York Knicks and the New York Rangers, is cutting 50 jobs, or about 15 percent of the company’s staff.
The dismissed employees will receive severance and benefit packages, as well as relocation support, to facilitate the transition, the company said. “
This is more than the commercial side of MSG and probably shouldn’t affect the basketball side, led by team president Leon Rose. Dolan has just signed a big five-year contract with head coach Tom Thibodeau, and the word on the street is that Rose is planning to significantly expand her coaching staff.
However, it’s never fun to see people lose their jobs. A total of 1,900 MSG part-time employees were cut in May, as Garden was left empty due to the pandemic.