NBC News is gearing up for significant layoffs, with around 150 staff members likely to lose their jobs this week as the network adjusts to operating without its cable counterparts, MSNBC and CNBC, according to recent reports.
The layoffs are set to begin on Wednesday and continue through Thursday, impacting about 7% of the 2,000 employees in the news department. Insiders have shared that there’s a palpable sense of anxiety among the staff at NBC’s headquarters about what the future holds.
This wave of job cuts coincides with Comcast’s plans to create a new publicly traded entity called Versant, which will include MSNBC, CNBC, USA Network, and various other cable and digital assets by year’s end.
In recent weeks, smaller layoffs have already taken place within NBC News as part of this restructuring effort. For example, late last month, NBC’s graphics division, which provided support for both MSNBC and NBC News, saw its team cut down to fewer than 12 employees.
This initial reorganization was described internally as one of the first adjustments following NBC News’ separation from the cable network.
Just last week, NBC began a legally mandated “consultation phase” at its London bureau, indicating to employees that further cuts were on the horizon.
There’s been much chatter in internal discussions about who might be next to go. As NBC News prepares to stop sharing resources with MSNBC and CNBC, they will need to make significant staff reductions to align with the new operational structure.
Starting October 20, journalists from NBC News will no longer appear on MSNBC, marking the end of a joint venture that has lasted decades. From now on, MSNBC and NBC News will operate independently, with the editorial board being abolished and no shared resources except for access to NBC’s decision-making desk through the election.
This split concludes a sometimes tense relationship between NBC’s factual reporting and the more opinion-driven programming of its cable stations. In a notable change, MSNBC will be rebranding to MS NOW in November, shedding both the “NBC” identity and its iconic peacock logo during a move to new studios located in Times Square.
Executives have promised more freedom in reporting and plans to rebuild the newsroom and technology under Versant, which is also incorporating CNBC, known for its distinct business-focused approach.
Versant is anticipated to debut on Nasdaq with the ticker symbol VSNT and will aggregate Comcast’s entertainment channels, like E!, Syfy, Bravo, and others, along with digital entities like Fandango and Rotten Tomatoes.
Comcast indicated that the spinoff will be tax-free for shareholders, who will receive their shares in Versant directly. The new company is projected to kick off with about $7 billion in annual revenue and relatively low debt, establishing a stable framework independent of Comcast’s larger media holdings.
Mark Lazarus, a long-time NBCUniversal executive, will lead this new venture, while Comcast retains its broadcast network and streaming platform Peacock, alongside various other media interests.
Once the spinoff concludes, NBCUniversal is expected to shift focus more towards streaming, studio productions, and live events.
The Post has reached out to NBC News for further comment.
