Advertising Age Article Abstract
NBC Universal to Retool, 700 Positions Axed
Money-Saving Moves Include Cutting Programming, News Costs
NEW YORK (AdAge.com) -- NBC Universal plans to reduce overhead by $750 million by the end of 2008 and intends to axe 700 positions, or about 5% of its global work force. The cuts are part of a major corporate reorganization dubbed "NBCU 2.0," and will be most notably felt by the news operations and the broadcast network, which will no longer program expensive dramas or comedies at 8 p.m. ...