CNBC ANNOUNCES CUTS
February 16, 2001

An Online NewsHour Report Just a month after parent company NBC set the stage for widespread staff cuts, cable business network CNBC announced it would cut a quarter of its online operation and 4 percent of its broadcast staff in a move to consolidate the two divisions.

Online Special: Layoffs.com Online Special Media Watch Feb. 15, 2001: Four Web executives on the dot-com downturn. Jan. 15, 2001: NBC announces Web/TV consoldiation effort. Browse the NewsHour's coverage of business and cyberspace   CNBC NBC	The network announced yesterday it will eliminate 26 of the 100 full-time employees at CNBC.com. The cuts will also pare down the number of part-time and freelance staffers. Meanwhile, about twenty positions will disappear from CNBC's 500-strong broadcast staff. Spokesman Paul Capelli told The Wall Street Journal yesterday that the cuts, implemented across departments and offices, were part of NBC's previously announced effort to consolidate its Web and television departments. "Today's reductions were based on the consolidations and based on what's happening in the marketplace," he said. Last month, NBC announced a plan to slash up to 10 percent of its nearly 6,000 staffers in an effort to tie its Web presence more closely to its television properties. The network said the cuts would affect both CNBC and cable news channel MSNBC, as well as the company's various Internet sites. CNBC's consolidation will reach the network's upper echelons as well. Pamela Thomas-Graham, formerly president of CNBC.com, will become president of CNBC. Thomas-Graham replaces Bill Bolster, who will become the network's chairman.

The NewsHour Media Unit, including this site, is funded by grants from: