Comcast’s NBCUniversal is eliminating several hundred streaming technology positions, Themoneytimes has learned.
The job cuts will affect NBCU’s worldwide streaming technology division, encompassing engineering and quality assurance teams, according to three individuals familiar with the matter.
The majority of reductions are occurring at Sky, Comcast’s European media subsidiary, although a source briefed on the changes indicated that some U.S.-based NBCU employees will also be impacted.
Comcast is gearing up to separate NBCU, including its streaming services and studio, from its cable and internet operations next summer.
Legacy media firms are trimming expenses under Wall Street pressure while battling well-funded, tech-savvy competitors such as Netflix and YouTube. NBCU’s streaming reductions arrive months after its U.S. platform, Peacock, achieved profitability on an adjusted EBITDA basis for the first time.
“As NBCUniversal and Sky continue investing in our streaming products and technology, we are proposing changes to our Global Streaming Technology organization, which will affect certain roles,” an NBCU spokesperson stated. “This evolution will ensure we have the appropriate structure and resources for future growth and allow us to better serve our customers and partners.”
Workers impacted by the downsizing were notified Wednesday, sources said. U.K. labor regulations mandate a consultation period for affected staff, so terminations won’t be immediate. Those consultations commenced yesterday, according to a person familiar with the situation.
A Peacock technology employee said they remain “still happy” at NBCU despite the layoffs, though they express uncertainty about the future as the media company readies for independence from Comcast.
“Tech-side layoffs make me question how we’ll achieve our major 2027 objectives, such as separating from Comcast and integrating ITV into the platform,” this person said.
NBCU dismissed dozens of staff in March after shutting down Showmax, an African streaming service it ran jointly with French broadcaster Canal+.
Several competitors have also implemented reductions. Disney conducted its third round of layoffs since April earlier this week, and Paramount Skydance is widely expected to reduce headcount following its acquisition of Warner Bros. Discovery in a $110 billion transaction that CEO David Ellison projects will yield $6 billion in cost savings.