NBCUniversal Begins Round of Staff Layoffs

Management restructuring expected

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.

NBCU’s New York headquarters

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 billion 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.”