NBCUniversal is cutting its workforce in a round of year-end cost cutting, the Los Angeles Times reports. The company is laying off about 500 employees, or about 1.5% of its employees, the story reports.
The cuts will be spread throughout the media company. Some layoffs have already been made, including the "Tonight Show" cuts about two months ago, when about two dozen crew members were let go, the story adds.
A large number of the cuts are related to G4, the cable channel that focuses on video-game culture, which recently canceled two long-running shows, "Attack of the Show!" and "X-Play."
Layoffs are expected throughout the cable properties, as well as the NBC News group, the piece notes. The company’s Universal Pictures unit, whose home entertainment division has suffered from the industrywide dip in sales of DVDs, cut about 20 positions last month.
“Universal also decided to shutter its feature post sound studio after its staff completes work on current projects,” the piece reports. “The closure is expected to lead to the loss of another 20 people during the next year, a person familiar with the studio said.”
The report adds: “Creative executives who work within NBC Entertainment were spared, according to knowledgeable people. The Peacock Network is in the midst of a ratings revival, the only major broadcast network to post audience gains during the new fall TV season.”