NBCUniversal Begins Round of Staff Layoffs

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Management restructuring expected

(Image credit: NBCU)

Comcast’s NBCUniversal unit has begun a substantial round of layoffs that could mean the loss of more than 1,000 jobs in the middle of a pandemic.

According to the Wall Street Journal, the layoffs are expected to be less than 10% of NBCU’s 35,000 full-time employees. Jobs are being cut in nearly all parts of the company, including its TV channels, movie studio and theme parks.

NBCU reported profits of $1.6 billions in the second quarter, down 30%, as revenues fell 25.4% to $6.1 billion.

During the company’s earnings call, NBCU CEO Jeff Shell announced plans to restructure the businesses under Mark Lazarus, who was named chairman, NBCU Television and Streaming, in May. 

“Mark is finalizing a new structure that will demonstrate the unique way we intend to manage this business going forward,” Shell said. “We will announce the structure soon.”

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.