Originally published October 18, 2008 at 7:20 PM | Page modified October 18, 2008 at 7:20 PM
E-mail article
Print view Share:
Digg
Newsvine
Report: NBC Universal plans $500 million in cuts
A trade paper reports that NBC Universal plans to cut $500 million in spending next year to prepare for an expected continuation of the worldwide economic slowdown.
A trade paper reports that NBC Universal plans to cut $500 million in spending next year to prepare for an expected continuation of the worldwide economic slowdown.
Variety says President and CEO Jeff Zucker announced the cuts Friday in a staff memo. The reduction would equal 3 percent of the company's budget.
Variety says division heads will decide how to reduce their spending. But Zucker's memo suggested several ways, including staffing reductions and cutbacks in budgets for travel, entertainment and promotions.
Variety says the memo didn't specifically mention any layoff plans. It's unclear how many staffers might be affected by the spending drop.
An NBC Universal spokesman didn't return a call seeking comment Saturday.
Copyright © 2008 The Seattle Times Company
Flood fears dampen business, home sales
A Bing deal for Microsoft, News Corp.?
Amazon, Wal-Mart escalate Web price war
Disney's new movie chief recasting studio
Madoff liquidator wants $22M for 5 months' worth

PNW Magazine | Easy As Pie
A little friendly competition between professional pie-baker Kate McDermott and The Seatttle Times' Kathleen Triesch Saul is handled with great taste.
- Illegal workers quietly let go
- Sprouts, raw fish on attorney's 'do not eat' list
- Jerry Brewer | Jerry Brewer: Seahawks can't lean on the Hutch Crutch now
- Woman stabbed by stranger in North Seattle
- Tattoos at Mill Creek church pierce skin, soul
- UW, WSU once again meet to see who's worse
- Food-safety lawyer's wish: Put me out of business
- Husky Football Blog | Ranking the Pac
- Vikings easily beat the Seahawks
- Tugboat sinks at Seattle waterfront pier
- Sprouts, raw fish on attorney's 'do not eat' list
- Tattoos at Mill Creek church pierce skin, soul
- Food-safety lawyer's wish: Put me out of business
- Illegal workers quietly let go
- Architects, chefs find 'kid' within to build Gingerbread Village
- Rediscovering Moab, 'the most beautiful place on Earth'
- Hutch gets $10M from Bezos family for immunotherapy research
- UW, WSU once again meet to see who's worse
- Children in home day care watching hours of TV, study says
- Taste | The Great Pie Bake-off pits friends and fruit


