Comcast Corp’s (CMCSA) NBC News division is reportedly planning to lay off 150 employees, a move resulting from the company’s strategy to spin off some of its underperforming cable channels.

Add Asianet Newsable as a Preferred Source

According to a Bloomberg News report, citing people familiar with the matter, the layoffs, which began on Wednesday, target about 2% of the news division staff. The report noted that this was part of the company’s efforts to cut costs ahead of the spin-off.

Meanwhile, it also highlighted that in 2024, Comcast had announced plans to spin off several of its cable channels, including CNBC, MSNBC, and USA Network, into a separate entity later named Versant.

Bloomberg said that the divestiture is expected to be finalized this year, and post-spinoff, NBCUniversal will continue to operate NBC News, Bravo, and the Peacock streaming platform.

Get updates to this developing story directly on Stocktwits.<

For updates and corrections, email newsroom[at]stocktwits[dot]com.<