Read the memo ESPN Chairman Jimmy Pitaro sent staff about the Disney layoffs

• Jimmy Pitaro addressed ESPN staff after Disney's recent layoffs.
• The memo, obtained by Business Insider, said ESPN employees being cut have already been informed.
• Disney's layoffs are the first under its new CEO, Josh D'Amaro.

The top executive at ESPN addressed his staff after the latest round of layoffs at its parent company, Disney.

Jimmy Pitaro, chairman of ESPN, sent a memo about the cuts to his employees on Wednesday. The memo, obtained by Business Insider, said that all ESPN employees affected by the cuts have already been notified.

The layoffs, which began Tuesday, were the first at Disney under new CEO Josh D'Amaro, who took over in March.

Read Pitaro's memo below:

Team:

As Josh D'Amaro shared, our industry and our businesses are undergoing profound change, and we must continue fostering a more agile and technologically enabled workforce. While these realities require difficult decisions, that does not lessen how hard it is to say goodbye to colleagues who have dedicated themselves to ESPN.

I want you to know that conversations are completed with those whose roles are impacted this week.

To team members who will be leaving, thank you for your contributions — these decisions do not reflect the strength of your work or of the company, but rather our focus on how to best manage our resources to support continued growth. We are here to help you through this transition, and we encourage you to reach out to your leadership or People & Culture (HR) business partner with any questions.

I remain optimistic about our future, even during these tough days. ESPN's foundation is built on strong relationships, perseverance and a commitment to serving sports fans — values that matter particularly in difficult moments. Let's continue to support one another.

Jimmy