The Guardian
trending topics
Close Box

Our news

Yes, it’s true: We are joining GigaOM...


NBC Layoffs Well Underway; 500 Across Company; 17 From iVillage

  • Comments Comments (View)
  • Text Size: A A

imageIn October, NBC Universal (NYSE: GE) CEO Jeff Zucker served notice that the company would cut costs by some $500 million, or 3 percent of the overall budget. This week, part of that’s being translated into roughly 500 jobs across the company with most of the notices coming today; some may be pushed into early next week. That translates into 3 percent of the 15,000-person workforce—a coincidence, I’m told, not a target; sources say that there were no specific targets like cutting x amount of jobs in each area but the total overall had to meet Zucker’s public goal of at least $500 million in reduced operating costs for 2009. The company isn’t providing a breakdown by department or domestic-international—or the specific savings from layoffs alone—but some details are emerging and we’ll update as we get more:

SEE ALSO: NBCU Layoffs Target 30 in Ad Sales

—We wrote earlier today about 30 cuts in sales.

—The direct effect on digital was described to me as a very small number. I can confirm that 17 people are being laid off at iVillage in edit, sales and tech; the iVillage Network is part of NBCU Women and Lifestyle Entertainment Networks.

—Sources inside NBC call a published report of 80 being laid off at CNBC “wildly inaccurate.” No specific number yet but 40-50 seems more likely. I can confirm that no on-air jobs will be cut at CNBC.

Update: Universal Pictures is laying off about 70 based on a memo from Marc Shmuger and David Linde posted at Deadline Hollywood. The memo said the reduction was about 3 percent of headcount.

Photo Credit: Mark Heard

Dec 4, 2008 11:44 AM ET

Posted In: Jobs & Layoffs, Money, Companies, NBC Universal, layoffs

(Page 1 of 1)


The Bestsellers

From iTunes and YouTube to Facebook and Kindle, the most popular content on the web, free and paid.

VOD Movies (RENTRAK) VOD Movies (RENTRAK)
1. Real Steel
2. 50/50
3. Moneyball
4. Paranormal Activity 3
5. The Ides of March
See The Other Bestsellers »

Jobs RSS Job Listings

Social Standing

Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?

"Sentiment" Scores for All the Companies »

Sponsors

Staff