NBCUniversal Cuts Hundreds of Global Streaming Tech Employees
By James Faris
NBCUniversal is letting go of several hundred global streaming technology employees, according to sources familiar with the matter. These layoffs primarily affect the engineering and quality assurance teams within NBCU's global streaming technology group.
Comcast's media arm, Sky, will bear the brunt of the cuts, but some US-based workers at NBCU are also expected to be impacted. This downsizing comes as Comcast prepares to spin off NBCU's streaming services and studio from its cable and internet businesses next summer.
"As NBCUniversal and Sky continue to invest in our streaming products and technology, we are proposing changes to our Global Streaming Technology organization... This evolution will ensure we have the right structure and resources for future growth." - NBCU Spokesperson
The layoffs were communicated to affected employees on Wednesday, with consultation processes commencing immediately under UK labor laws. While some employees remain positive about their future despite the cuts, others question how the company will achieve its 2027 goals in the wake of these changes.
This recent news follows Peacock's first profitability on an adjusted EBITDA basis, signaling a potential shift in strategy for traditional media companies as they navigate increasing competition from tech giants like Netflix and YouTube.