NBC News plans to reduce its workforce by approximately 7% to 8%, resulting in the elimination of 150 positions. This decision reflects the ongoing challenges within the media industry and follows the impending spin-off of NBCUniversal’s CNBC and MSNBC into a new publicly traded entity named Versant.
Details of the Workforce Reduction
Reports indicate that affected employees will be notified of their status on Wednesday. However, not all staff members facing layoffs will be leaving the company entirely. Many will be given the opportunity to apply for 140 open positions within NBC’s news operations.
Of the roles being eliminated, about a dozen will be repurposed into new positions. Those impacted by the layoffs are encouraged to explore these new opportunities.
Impact on Employment
- Job Cuts: A reduction of 150 positions, equating to 7%-8% of NBC News’ workforce.
- Open Positions: 140 active roles available within NBC News operations.
- Company-wide Impact: Approximately 2% of all positions across NBC’s news business will be affected.
Cesar Conde, chairman of NBCUniversal News Group, addressed the situation in a memo, stating the difficult nature of these decisions. Conde emphasized that the layoffs do not reflect on the value of departing team members. “Today is a hard day. We have had to make some difficult decisions regarding the elimination of positions across NBC News,” he noted.
Industry Context
The layoffs come amidst broader cost-cutting measures within the media industry. Paramount Skydance is also expected to announce significant job reductions, including staff at CBS News, in the coming weeks. Similarly, CNN has made cuts recently as it shifts focus towards enhancing its digital operations.
Despite these challenges, NBC is exploring future growth. Last week, Conde revealed plans to launch a new subscription service aimed at mobile audiences, alongside a renewed emphasis on sports content.
