11:22 AM EDT, 07/18/2024 (MT Newswires) -- Penn Entertainment ( PENN ) is reducing its number of employees, including positions at ESPN BET, media outlets reported Thursday, citing a memo sent by Chief Executive Jay Snowden to staff.

The company will lay off some 100 employees, CNBC reported, citing the memo.

"This week, we are implementing changes at Penn Interactive to help streamline reporting lines, enhance operational efficiencies, and leverage shared resources across Penn," Snowden reportedly said in the memo. "Unfortunately, these changes will result in a limited number of team member separations."

The company didn't immediately respond to MT Newswires' request for comment.

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