NBCUniversal laying off workers amid pandemic pain

By The Associated Press | Posted - Aug. 4, 2020 at 4:54 p.m.

Comcast’s NBCUniversal is having company-wide layoffs, a spokeswoman confirmed.

The layoffs affect less than 10% of the company's employees, according to the Wall Street Journal, which cited unidentified people familiar with the matter. NBCUniversal has 35,000 full-time employees.

The coronavirus is hurting NBC's business. In its most recent quarter, revenue slid 25% to $6.1 billion as the coronavirus pandemic shut down Hollywood and live sports. Advertisers have pulled back from TV, movies are delayed as theaters are largely shut down and theme parks were closed for most of the quarter. NBC reopened two of its parks, Universal Studios Japan and its Universal park in Orlando, Florida, in early June.

Other entertainment companies are also feeling the effects of the pandemic. Disney reported Tuesday that its revenue fell 42% to $11.8 billion in its most recent quarter.

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The Associated Press

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