NBC News is starting to lay off staff from its London Bureau, a move that’s seen as part of a restructuring process ahead of the split between its sister channels, MSNBC and CNBC.
They’ve entered what’s called the “consultation phase,” which is a legally required step in the UK before making cuts. This information comes from a recent newsletter detailing the situation.
This initial phase of layoffs has many in the newsroom feeling anxious, as it suggests that more job cuts may be on the horizon, according to the newsletter.
Just last week, NBC News let go of fewer than a dozen people from the graphics team that supported both MSNBC and CNBC, which has also contributed to the growing unease in the office at 30 Rockefeller Plaza in Manhattan.
Several insiders shared their worries, with a general sense of fear brewing over what might come next. One insider mentioned, “It’s going to be bad, but no one knows how bad it is.” Another compared the atmosphere to the tense final hours of a divorce, as employees brace for the inevitable changes.
This wave of anxiety is set to officially kick off on Monday, the day NBC News staff will cease appearing on MSNBC, marking the end of a long-standing partnership between the two organizations.
Later this month, the teams will stop their collaborative news editing calls, and by November, MSNBC will start its transition to a new facility in Times Square.
Later this year, MSNBC will also establish an independent newsroom and will be rebranding itself, transitioning to “MS” and abandoning the Peacock logo in favor of a new design featuring a striped flag.
Following this separation, NBC News will have to restructure its staffing significantly.
In May, Comcast, NBC’s parent company, announced plans to spin off parts of its cable and digital operations into a new entity called Versant, which will include brands like Fandango and Rotten Tomatoes, among others.
This new company, which will debut on Nasdaq, will also encompass well-known cable channels such as Syfy and E!, and will be led by CEO Mark Lazarus, supported by a specialized board for Versant, expected to launch in 2025.
Initially, Versant will retain NBC’s sports broadcasting rights, including events like the Olympics and the Premier League, but will eventually move into standalone programming after a transition period.
Despite reporting an estimated $7 billion in revenue for 2024, the company is grappling with declining profits from cable and a significant debt of around $1 billion.
Comcast will continue to focus on its NBCUniversal holdings, including the broadcast network, streaming, studios, and theme parks, while CNBC retains its name and main business focus amidst this shift.
As for this situation, NBC News has been asked for comment.
