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Comcast’s NBCUniversal continues layoffs to reel in costs

By Daniel S Levine,

Comcast’s NBCUniversal is reportedly laying off as much as 500 employees in an ongoing effort to reel in costs.

According to Reuters’ sources, the layoffs will be concentrated at cable channels, the Universal movie studio and at The Tonight Show with Jay Leno.

Some of these cuts have already taken place, mostly at G4, the cable channel that targets male viewers and video gamers. The network’s long running shows, Attack of the Show and X-Play, were both cancelled last month, notes The Hollywood Reporter. During the summer, layoffs at the Tonight Show went public and Jay Leno confirmed that he took a 50 percent pay cut.

Reuters reports that another 20 jobs were cut at Universal Studios.

The cuts make up 1.5 percent of NBCUniversal’s workforce of 30,000 employees.

Businessweek reports that the cuts come while Comcast deals with lower advertising revenue as viewers seek more alternatives to catch NBC and Universal programming. Sale growth slowed to just 1 percent in the US during the third quarter of the fiscal year.

According to Deadline, which first reported the layoffs, other cable channels that will experience cuts include E!, SyFy, USA Network and Bravo.

NBCUniversal has yet to comment on the reports.

 

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