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NBC to cut staff
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September 17, 1998: 3:41 p.m. ET
Peacock network trimming payroll to curb costs; notices expected next week
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NEW YORK (CNNfn) - General Electric Co.'s NBC broadcasting unit plans to cut its staffing levels across the board as part of a plan to deal with increasingly difficult business conditions.
"Cost controls have become a reality," NBC President Bob Wright said in an internal memo to employees issued Thursday.
Although the memo doesn't mention a specific number, the cuts are likely to total as many as 250, or about 4 percent of the total work force. The cuts also apply to NBC's cable units, MSNBC and CNBC.
Some employees will be told as early as next week.
An NBC spokeswoman said the company is taking the latest initiatives to stay ahead of the curve.
And the so-called Peacock network isn't alone. In the wake of skyrocketing programming costs and the rising price of talent, broadcasters have been pinched to hold down overhead costs as of late.
Even after affiliated stations agreed to share in its $4 billion tab for the TV rights to the National Football League, CBS Corp. still is taking a charge in the third quarter to eliminate jobs. And ABC Network, a unit of Walt Disney Co., is moving in a similar direction.
CNNfn and this website are direct competitors of NBC.
-- from staff and wire reports
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