12.10.2007 08:47 AM
Originally featured on BroadcastEngineering.com
NBC to cut jobs in news division
NBC Universal plans to cut fewer than 20 jobs at NBC News and MSNBC to meet year-end restructuring and financial targets in a tough economic climate, Reuters reported.
The news service based its report on an NBC source close to the news division. The cuts, it said, are expected to be in the newsgathering and operations sides of NBC News and MSNBC cable news divisions. CNBC will not be affected.
“There is an ongoing process at NBC News to reallocate, reorganize and right-size the division given the business pressures that every major media organization is facing,” NBC News said in a statement. “This process began some time ago, it continues today, and will continue tomorrow.”
Reuters said its source disputed a “New York Post” report last week saying that the network planned to make “deep” cuts in the news division to save $20 million to $40 million, following poor November ratings in NBC’s entertainment division.