Schwab hosted a quiz show called "Stump the Schwab" a few years ago, and has worked on a handful of shows since.
After he was fired, he took to Facebook to say the company only fired him because of his salary.
The note:
"After 26 years at ESPN, I am extremely disappointed to say farewell. I have been proud of my association and my work during my tenure. I was a loyal employee, displayed respect for others, worked with numerous charities, represented the company well. I always did everything asked of me and more. What did I get in return today ... word that I should get lost. The only thing that mattered was my salary, which in my view was the lone reason I lost my job."
ESPN will reportedly fire hundreds of employees this summer.
The company's declining profit margins are widely believed to be the reason for the layoffs. One way to improve those margins is to fire long-time staffer and replace them with young, cheap workers.
Schwab appears to think that's what is happening here.