NBC Universal to cut jobs to boost growth

NBC Universal to cut jobs to boost growth

NBC Universal has said in a statement that they aim to cut 700 jobs as they plan to slash annual operating costs by $750 million.

These are parts of their plan to overhaul its traditional media businesses. The company aims to invest more in fast-growing international and digital operations.

NBC is hoping that these changes would be implemented by 2008 and would help them restore the double-digit profit growth.

In addition, they are now aiming to achieve revenues of more than $1 billion from their digital operations by 2009.

NBC Universal Television Group Chief Executive Jeff Zucker said in a statement: “It’s a matter of making sure the areas that are going to grow over the next five years are supported. That’s principally international and digital growth. It’s less about acquiring (new businesses) than supporting those areas.”