The decline in TV viewers and advertisers due to the rise of streaming services has hit cable networks particularly hard. Published on October 15, 2025, this report highlights that Comcast Corp.’s NBC News division is laying off 150 employees as part of its strategy to spin off some of its underperforming cable channels.
The layoffs, which account for approximately 2% of the news division’s workforce, began on Wednesday and are part of cost-cutting measures ahead of the planned spinoff. According to sources, Comcast intends to separate CNBC, MSNBC, USA Network, and other cable channels into a new entity called Versant, with the spinoff expected to finalize this year. Following the separation, Comcast will retain NBC News, Bravo, and the Peacock streaming service under the NBCUniversal umbrella.
Despite the layoffs, the news division is actively seeking to fill around 140 positions, and those affected by the cuts are encouraged to apply. Severance packages and subsidized benefits will be provided to the impacted employees. The shift in viewership and advertising revenue towards streaming platforms has particularly affected the cable networks that Comcast is divesting. Similarly, Warner Bros. Discovery Inc. is also planning to divest its cable networks, having recently turned down a buyout offer from Paramount Skydance Corp. Meanwhile, Paramount is set to reduce programming for its cable channels and cut thousands of jobs following its $8 billion merger with Skydance Media in August.