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In An Effort To Bring Total Spending Down, NBC Universal Will Cut more than 700 Jobs

NBC Universal is cutting about 700 jobs to save the company about $750 million in spending.

The restructuring follows a July initiative that NBC Universal Television Group President Jeffrey Zucker billed as a comprehensive review of a media business that needs to change with evolving digital technologies. The company has been challenged by a ratings decline at NBC that is only beginning to turn around, and NBCU last week said second quarter profit dipped 10 percent from a year earlier.

The new plan, dubbed NBCU 2.0, will bring big changes for the news division, which has been the focus of the most persistent job-cut rumors. The boldest stroke will move MSNBC to NBC News’s Manhattan headquarters at 30 Rockefeller Plaza from the cable channel’s New Jersey home of 10 years.

For more on this news, please follow the link to the source.

NBC Universal to Cut 700 Jobs, Slash Spending [TV Week]

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