CNBC Plans International Staff Reductions Amid Restructuring
LONDON – CNBC is initiating a consultation period that could lead to the reduction of up to two dozen positions within its international operations, based in London and Singapore, and across other global offices. The potential downsizing impacts roles within the network’s digital editorial teams.
the move comes as CNBC prepares to be spun off from NBCUniversal into a new, standalone company called Versant in the coming months. While CNBC maintains the restructuring is not directly linked to the separation – Versant is actively seeking to fill approximately 750 positions across its networks - the cuts reflect a broader effort to align the institution with long-term strategic priorities.
“we are currently consulting on proposed changes to the organizational structure of the international team to ensure we are best positioned to deliver on our long-term strategic priorities,” a CNBC spokesperson stated. “As this process is ongoing, we are unable to provide further details at this time.”
The planned reductions are subject to British labor laws, requiring a consultation period before any layoffs can be finalized.This restructuring follows the appointment of Deep Bagchee as President of CNBC International in 2024, succeeding John Casey who stepped down after nearly three decades with the network. prior to joining CNBC, Bagchee served as Chief Product Officer of ITV, where he played a key role in the launch of the free streaming service ITVX.