NBC News cuts 150 jobs ahead of Versant spinoff

NBC News eliminated about 150 jobs on Wednesday as the network reorganizes ahead of a planned spinoff of its cable siblings and adjusts to a difficult advertising and audience environment, company officials and people familiar with the matter said. The cuts, which were announced in a brief internal meeting, affect staff across the news division and come as CNBC and MSNBC prepare to separate into a new publicly traded company called Versant.

The reductions total roughly 150 positions, representing about 7 percent of the NBC News newsroom and roughly 2 percent of the broader news group, according to people briefed on the decisions. Management told employees the move reflects both the fact that NBC News will no longer be providing newsgathering support to the two cable networks and broader pressures on the television news business from declining ratings, fragmented audiences and weaker ad revenue.

Executives disclosed the cuts during a morning meeting led by an editorial vice president, according to a person who attended. A separate person familiar with the situation said termination notices were distributed Wednesday. Impacted employees have been offered severance, subsidized...