By Michael Schneider
NBC Universal is prepping another round of major cuts, slashing spending by $500 million next year.
Conglom topper Jeff Zucker announced the reduction Friday via a memo to staffers. Cuts would equal 3% of the company’s budget, according to Zucker.
In the memo, Zucker blamed the current economy, arguing that NBC U needed to take precautionary steps despite coming off eight consecutive quarters of growth and profit.
“We are living in a time of unprecedented economic challenges….
Read the rest: