"I gave back 15 percent of my salary": Stephen A. Smith returned $2.25 million when Disney fired 7000 people amidst $2.5 billion loss

Stephen A. Smith gave back 15% of his salary to ESPN amidst their layoffs. The outspoken sports analyst is arguably the biggest face in the company due to his success on First Take. As such, the analyst led by example during a period of struggle for the company and its parent company, Disney.

The situation occurred during the middle of the COVID-19 pandemic when sports stations were hit hard due to the lack of live sporting events. Disney had announced that they were making big cuts to their staff across the board as they looked to control spiraling costs, estimated to be around $2.5 billion.

During a recent appearance on the "Joe Budden Podcast," Smith talked about his decision to give back some of his salary to help the company and potentially save a few jobs. The 15% that Smith gave back equates to roughly $2.5 million, making it an incredibly generous donation back to the company.

"First of all, we knew it was coming the moment that Bob Iger returned as the head of and CEO of Walt Disney, and a few weeks later, it was announced that 7000 layoffs," Smith said.

"You have to be a new kind of fool to not know that ESPN is going to suffer some cuts when its parent company announces that 7000 cuts are coming to make up for five and a half billion dollars."

Stephen A. Smith continued:

"COVID hits, parks closed, movie theaters closed, ESPN no live sporting events, we took a tremendous loss.

"I gave back 15 percent of my salary because they came to you asking you if is that something you can do; you're not forced by the way; it's not force; it's voluntary. They came to me. I was the first one that said, 'yeah here you go.'"

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Stephen A. Smith knows he could eventually be fired

In early 2023, ESPN underwent additional cuts, with multiple staff members losing their jobs. The sports industry is in a state of flux, with companies figuring out how to navigate an ever-changing market.

On "The Stephen A. Smith Show," Smith noted how he's under no illusion that he could be the next big name to lose his job.

“This ain’t the end. More is coming,” Smith said. “And yes, ladies and gentlemen, I could be next.''

Smith noted how, unlike in 2009, being let go by ESPN wouldn't catch him off guard this time.

"The one thing I could tell you about Stephen A, this ain’t 2009. I really didn’t see it coming,'' Smith said. "My eyes are always wide open now. I’m never comfortable. I never take anything for granted, and I never assume that I’m safe.”

However, as ESPN's biggest draw, it's unlikely that Stephen A. Smith would face unemployment soon. Nevertheless, the popular analyst appears to understand the risks of the sports business and doesn't take anything for granted.