NBC News plans to lay off about 100 to 150 staffers, according to a person familiar with the matter, as it deals with sagging media-industry economics and the looming spin-off of NBCUniversal’s CNBC and MSNBC into the new publicly-traded company Versant. Affected employees were expected to be notified Wednesday, this person said.
Not all the staffers affected are set to depart. Many will be encouraged to apply for 140 active open roles across the company’s news operations. Approximately a dozen of the eliminated positions are being repurposed as new roles, and those affected have encouraged to apply to those roles.
In all, the jobs affected will encompass between 7% and 8% of NBC News’ employee base, and about 2% of overall positions in the company’s broader news business.
“Today is a hard day. We have had to make some difficult decisions, including the elimination of positions across NBC News. While these decisions are necessary to remain strong as an industry leader, they are not easy and are never taken lightly,” said Cesar Conde, chairman of NBCUniversal News Group, in a memo to staffers Wednesday. “We have sought to minimize the number of affected team members, and our teams’ decisions should not be seen as a reflection on our colleagues who will be leaving. We will miss them and their valuable contributions.”
The job cuts have been anticipated for weeks, particularly because NBC News Group, an umbrella division that encompassed both the aforementioned cable networks as well as businesses associated with NBC News, is being cleaved in two, and revenue from cable will now go to feed operations at Versant.
There are hopes of building news businesses in the near future. Last week, NBC News Group Chairman Cesar Conde discussed plans to launch a new subscription product for mobile audiences and a growing focus on sports.
NBC isn’t an outlier in working to trim costs. Paramount Skydance is expected to cut hundreds of employees, including a group at CBS News, over the next few weeks as it seeks to reduce its spending. CNN has laid off employees in recent months as it places expanding focus on its digital operations.
Love Film & TV?
Get your daily dose of everything happening in music, film and TV in Australia and abroad.
From Variety US