ENGLEWOOD, Colo. — DISH Network is laying off more than 500 Colorado employees by the end of this week. The company blamed “changing business demands” for the layoffs.
DISH is trimming staff at the Englewood headquarters and Littleton campus as more consumers cut the cord.
Kishore Kulkarni, professor of economics at Metropolitan State University Denver, said it comes down to having more options to stream your favorite TV shows.
“DISH Network and DIRECTV are making less money. So in general, the demand for these cable companies is going down,” said Kulkarni.
This week, DISH Network shares plummeted to a 25-year low on the heels of a disappointing earnings report. The provider reported $3.7 billion in revenue for the third quarter of 2023, compared to $4.1 billion for 2022 Q3.
“Like most businesses, we continually evaluate and make adjustments to ensure we’re set up for long-term success. We made the difficult decision to part ways with some team members due to changing business demands on some teams. Impacted employees will be notified by the end of the week," said a spokesperson for DISH Network in a statement.
Kulkarni said these layoffs won't have a big effect on the entire Denver metro economy, but he does predict more cuts in the future because of consumer behavior.
“Artificial intelligence will do more of these things as far as consumers are concerned. Consumers are going to go away from a traditional cable TV business,” said Kulkarni.
