NBC News lays off 150 employees

[noumoe]

The home of “Today” and “Dateline” is cutting 150 positions, but employees will be encouraged to apply for new positions as the division focuses on digital.

Termination notices went out to 150 NBC News Group employees Wednesday as the financial health of the traditional television business continues to erode.

The cuts have been anticipated for months as NBC is seeing declines in TV ratings and ad revenue that are not being fully offset by a growing digital business.

Audience migration to streaming platforms has put pressure on legacy outlets across the media industry, leading to layoffs and cost-cutting.

The cuts are also attributed to the spinoff of cable networks MSNBC and CNBC, according to a person briefed on the plans who was not authorized to comment. As of last week, NBC News no longer shares resources with the two outlets, which will become part of a new company called Versant. Some NBC News veterans have decided to join MSNBC, which will be renamed MS NOW.

https://www.latimes.com/entertainment-a ... cable-news

[noumoe]