NBCUniversal is reportedly cutting a few hundred streaming technology staffers. Most of the layoffs hit Sky, Comcast’s European media arm, though the cuts also reach some U.S.-based employees.
What We Know: The layoffs target NBCU’s global streaming technology group, including engineering and quality assurance teams, according to Business Insider. Affected employees learned of the cuts earlier this week. Additionally, UK labor laws require a consultation process, so dismissals won’t take effect right away. Meanwhile, the cuts follow NBCU’s March layoffs of dozens of employees after African streamer Showmax shut down.
What They Said: NBCUniversal Spokesperson (via Business Insider): “As NBCUniversal and Sky continue to invest in our streaming products and technology, we are proposing changes to our Global Streaming Technology organization, which will impact some roles. This evolution will ensure we have the right structure and resources in place for future growth and enable us to better serve our customers and partners.”
What Remains Unclear: However, it remains unclear how many U.S.-based employees the cuts will reach. The timing also raises questions as Comcast prepares to spin off NBCU next summer. Full scope of the cuts within the company is unknown.
What It Means: Ultimately, NBCU joins a growing list of legacy media companies trimming costs. For instance, Disney conducted its third layoff round since April earlier this week. Furthermore, observers widely expect Paramount Skydance to cut staff after closing its $110 billion Warner Bros. Discovery deal. Notably, the cuts arrive just months after Peacock posted its first adjusted EBITDA profit.
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