NBCUniversal began layoffs as part of a planned restructuring to emphasize streaming.
Telemundo and the theme-park unit have been the most directly affected with other divisions due to be affected as well. The cutbacks would likely be held to less than 10% of the company’s 35,000 employees.
COVID-19’s impact on NBCU theme parks, movie and TV production, live sports broadcasts and other operations is a major factor. The exact number of affected employees and details of the new org chart are expected to be finalized in mid- to late-August.
Regional sports networks operated by NBCU have also seen cuts.
Peacock, NBCU’s entrant into streaming, performed better than expected, drawing 10 million sign-ups since launch.
Streaming has also become a factor for Universal Pictures. A deal with AMC Entertainment will give the studio an option to shift new theatrical releases to other platforms, including premium video on demand, after just 17 days.
Photos by Getty Images