• by Wayne Friedman , December 4, 2008

On the heels of Viacom Inc.'s announcement of 850 jobs cut, NBC Universal will trim 500 employees from its company ranks.

NBC did not make an announcement--although insiders confirm that staffers amounting to 500 would be let go. Earlier this fall, Jeff Zucker, president/CEO of NBC Universal, noted that the company would be making $500 million in budget cuts.

A cut of 500 employees will mean a 3% reduction in its workforce. Some 30 staffers will also be cut from NBC Universal's entire TV advertising sales and marketing group, which represents the NBC network as well as its cable channels.

Both companies cite the slowing economy as the main reason for downsizing.

NBC Universal President-CEO Jeff Zucker said back in October about forthcoming cuts: "This kind of message is never easy, but it is the right step to make, and the right time to make it. We have no choice but to respond quickly to the external economic forces that are affecting the entire world economy."