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BRIEFLY / COMPANY TOWN ANNEX

NBC Cutting 50 Employees in Burbank Unit

February 17, 2001|Brian Lowry

NBC notified about 50 employees in Burbank that they are being laid off as part of cost-cutting measures implemented by the network's parent company General Electric Co. The cuts, which amount to an estimated 8% of the work force, affect the network's entertainment, syndication and television production arms. Additional layoffs are occurring in New York and at the network's owned and operated TV stations, including KNBC-TV locally, which has told several veteran reporters their contracts won't be renewed. Beyond what a network spokesman characterized as "involuntary" firings, many vacant positions, or those left open by attrition, will not be filled. NBC is seeking to reduce overhead in response to sluggishness in the advertising market and lower ratings. GE plans to reduce NBC's work force by 5% to 10% and trim staff at financial news network CNBC by 4%.

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