A worldwide economic slowdown has NBC Universal on a budget, with $500-million or about 3% of the company’s annual budget in spending cuts scheduled for next year.
Announcing the budget cuts, staff has been directed to reduce promotion expenses, discretionary spending i.e. travel and entertainment, outside consultants, staffing costs, etc.
The latest in expense cuts, there was a $750-million in expense cuts in 2006, including a reduced NBC Universal workforce after 700-jobs were axed.
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