Baseball Musings
Baseball Musings
December 03, 2008
Cutting Staff

First the Diamondbacks reduced the size of their front office, now the Blue Jays are cutting their sales staff:

Rogers Communications, owner of the Toronto Blue Jays, announced plans Tuesday to lay off an unspecified number of employees in its media division, with about a third of those losses coming from the baseball team's sales staff.

A team employee familiar with the cuts said the number of jobs to be eliminated was "probably in the 30s." The spoke on condition of anonymity because he was not authorized to discuss the layoffs.

The Blue Jays are hit particularly hard due to the drop in the Canadian dollar.


Posted by David Pinto at 08:47 AM | Management | TrackBack (0)
Comments

Small market teams are going to be negatively impacted by the US recession. I would expect that big market teams like the Yankees, Mets, RedSox, Cubs and Angels will be the ones who will not be effected this. You could see a larger gap in payroll this year.

Posted by: Kerel Cooper at December 3, 2008 08:57 AM

If their financial management had hedged their Can $ exposure against the histrocial long term value versus the dollar (.70 to .80) , they would have been protected. Perhaps they got greedy and thought that the Can $ at parity was the new trend?

http://finance.yahoo.com/currency/convert?from=CAD&to=USD&amt=1&t=5y


Posted by: Bob Tufts at December 3, 2008 09:15 AM

Well Bob, that is an interesting comment, wrong but interesting. Before the big meltdown the Canadian dollar was staying in the 90 to 95 cent range. After the meltdown every currency dropped against the US dollar. Rogers is a greedy company, but no one could have predicted such an event a few months ago. Greed of some American financial companies is the real culprit. Unfortunately with the death yesterday of the owner, it was a bad day for baseball in Canada. Rest in peace Ted Rogers, you were an honourable owner & all Blue Jay fans salute you!

Posted by: Scott Arnold at December 3, 2008 10:41 AM
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