NBCUniversal is cutting a few hundred global streaming tech employees
NBCUniversal told streaming tech employees that it's laying off staffers across Europe and the US.
Comcast's NBCUniversal is reducing its workforce by laying off a few hundred streaming technology employees across Europe and the United States, according to a source. The majority of the cuts are expected to impact the UK-based Sky division. This move follows a previous round of layoffs in March, as reported by Business Insider.
The downsizing is part of NBCU's strategy to streamline its global streaming technology group, which includes engineering and quality assurance teams. The company is preparing to spin off NBCU, including its streaming and studio divisions, from its cable and internet businesses next summer. Traditional media companies are cutting costs to meet Wall Street expectations and compete with tech giants like Netflix and YouTube.
NBCU's streaming cuts come after Peacock, its US streaming service, became profitable on an adjusted EBITDA basis for the first time. Employees affected by the layoffs were notified on Wednesday, with consultation processes beginning in the UK due to labor laws. While some Peacock tech employees expressed uncertainty about the future, they remained positive about their current positions at NBCU.
The layoffs come amid a broader trend of cost-cutting measures across the media industry, with Disney and Paramount Skydance also expected to make reductions.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
