Cord Cutters: Comcast is Laying Off More Staff at CNBC

Story from Cord Cutters:

CNBC, a leading business news network, has initiated a downsizing plan targeting up to two dozen employees within its international operations, which are primarily based in London and Singapore, with additional offices in other global cities. The layoffs, centered on the digital editorial division, are part of a broader effort to realign the network’s organizational structure to meet long-term strategic goals according to Deadline. Due to stringent British labor laws, the proposed cuts are currently in a mandatory consultation period, a procedural step required before any layoffs can be finalized. While the exact number of affected positions remains uncertain, sources indicate that approximately two dozen roles may be impacted.

The restructuring comes at a time of significant transition for CNBC’s parent company, NBCUniversal, which is preparing to spin off most of its cable networks, including CNBC, into a new standalone entity named Versant. This spinoff, expected to be completed in the coming months, will exclude Bravo, which will remain under NBCUniversal’s umbrella. Insiders emphasize that the layoffs at CNBC’s international arm are not directly tied to the Versant spinoff, which is actively recruiting to fill around 750 positions across its networks as it prepares for operational independence. The creation of Versant is intended to streamline NBCUniversal’s portfolio, allowing the new company to operate with greater agility in a competitive media landscape.

The international division of CNBC has been under the leadership of Deep Bagchee, who assumed the role of president in 2024 after serving as Chief Product Officer at ITV, where he played a key role in launching the free streaming service ITVX. Bagchee succeeded John Casey, who departed in late 2023 after nearly three decades with the network. Bagchee’s tenure has focused on overseeing CNBC’s editorial output outside the United States, navigating the complexities of a global media market increasingly driven by digital platforms.

The consultation process, mandated by UK labor regulations, underscores the network’s cautious approach to workforce reduction, ensuring compliance with legal requirements while addressing internal priorities. As the media industry grapples with evolving viewer habits and economic pressures, CNBC’s move reflects a broader trend of cost-cutting and restructuring among legacy networks. The outcome of the consultation period will determine the final scope of the layoffs, with further details expected as the process concludes. Meanwhile, CNBC continues to position itself as a leader in business journalism, balancing operational efficiency with its commitment to delivering high-quality global coverage.