Who Did Barstool Fire?: Everything You Need To Know

Who Did Barstool Fire? – According to New York Post media reporter Andrew Marchand reported Wednesday that Barstool expects to lay off about 25% of its workforce, resulting in the loss of about 100 jobs.

The cut is a result of the company being sold back to founder Dave Portnoy and no longer financially supporting Penn Entertainment, a billion-dollar gambling company.

Barstool Sports was acquired by Penn in 2020. Penn thought that Barstool would help him add many new customers to his sports betting app and physical sportsbook locations, so he invested heavily in Barstool, seeing the company as a marketing and branding expense.

Under Penn’s ownership, Barstool expanded from about 130 employees to 430 employees. The media company was reportedly losing millions of dollars and was not acting as the partner Penn had expected.

Now that the company is once again privately owned, Portnoy has been accused of either cutting the workforce or personally losing millions of dollars to meet payroll obligations.

This is the unfortunate result of a public company being sold to become a large company and then becoming a private company again. Portnoy has made it clear to his employees and the public that layoffs are imminent. He wasn’t looking forward to it.

“It sucks,” Portnoy said Wednesday. “Firing people is really, really, the worst thing to do.”