Comedian Jay Leno arrives to the Vanity Fair Oscar Party at the Sunset Tower on February 26, 2012 in West Hollywood, California.
The late-night star has agreed to take a 50% pay cut, an NBC spokeswoman said Friday. She said she could not provide a dollar figure for Leno's new salary.
The move came as part of a 20% cut to the show's annual budget, taking it down to around $80 million through moves that also included the layoffs of around 20 staffers.
The news was reported earlier by the Wall Street Journal, which pegged Leno's new salary at $15 million.
The NBC spokeswoman said the show's budget increased when it made a short-lived move to prime time in 2009, and that the cuts brought it back in line with previous levels.
Even back at its 11:35 p.m. ET time slot, however, the show remains buffeted by competition from fellow late-night programs and online content. An NBC spokesman said the program was pulling in an average of 3.66 million viewers each night, down 5% from the previous season.
|Five things you didn't know about Bernie Madoff's epic scam|
|Obamacare: 365,000 have signed up for insurance on exchanges|
|Teen millionaire helping Yahoo become cool again|
|Stocks falter as budget deal raises taper risk|
|What the budget deal doesn't do|