NBC News Cuts 7% to 8% of Staff, or 100 to 150 Positions
Key Takeaways
- NBC News plans to lay off 100 to 150 employees due to poor media economics.
- The layoffs are linked to the spin-off of CNBC and MSNBC into the new company, Versant.
- Many affected staffers will be encouraged to apply for 140 open roles within the news operations.
- The job cuts represent about 7% to 8% of NBC News' total employee base.
- Other media companies, like Paramount Skydance and CNN, are also trimming staff.
NBC News is set to lay off between 100 and 150 employees, a move attributed to sagging media-industry economics and the impending spin-off of its cable networks, CNBC and MSNBC, into a new publicly-traded company named Versant. The layoffs, which affect 7% to 8% of NBC News staff, are expected to see affected employees notified on Wednesday, with many being encouraged to apply for about 140 existing open roles or newly repurposed positions. This restructuring is anticipated because the NBC News Group umbrella is being cleaved in two, diverting cable revenue to Versant. Despite the cuts, there are future plans, including a new mobile subscription product and an increased focus on sports, as discussed by Chairman Cesar Conde. NBC is not alone in cost-cutting, as Paramount Skydance and CNN have also recently implemented layoffs.
