7%-8% of Staff Cut, up to 150 Positions Eliminated

NBC News is facing layoffs of approximately 100 to 150 staffers as the media industry struggles with economic challenges and the impending spin-off of NBCUniversal’s CNBC and MSNBC into the new publicly-traded company Versant. The affected employees are expected to be notified on Wednesday.

However, not all of the impacted staff members will be leaving the company. Many will have the opportunity to apply for 140 open positions across NBC News’ various news operations. Additionally, around a dozen of the eliminated positions will be repurposed into new roles, and those affected are encouraged to apply for these positions.

These job cuts will affect between 7% and 8% of NBC News’ employee base and approximately 2% of overall positions in the company’s broader news business. The layoffs have been anticipated for some time, especially since NBC News Group, which includes the cable networks and businesses associated with NBC News, is being split into two separate entities. Revenue from the cable networks will now be directed towards supporting operations at Versant.

Despite the layoffs, there are plans to expand and innovate in the news business. NBC News Group Chairman Cesar Conde recently discussed the launch of a new subscription product for mobile audiences and a renewed focus on sports content.

NBC is not the only media company looking to reduce costs. Paramount Skydance is also expected to lay off hundreds of employees, including some at CBS News, as part of cost-cutting measures. Similarly, CNN has let go of employees in recent months as it shifts its focus towards digital operations.

As the media industry continues to evolve and adapt to changing consumer habits, companies like NBC News are making strategic decisions to streamline operations and position themselves for future success. These changes, while challenging, are necessary in order to remain competitive in a rapidly changing media landscape.