Business TV network CNBC is taking steps to shed up to two dozen workers in its international operation, which is based in London and Singapore, with offices in other cities.
Due to British labor laws, the planned downsizing is considered to be in a “consultation” period before any layoffs can take effect. A person familiar with the anticipated cutbacks said about two dozen positions could be affected, though the exact number has not been finalized. The editorial positions are in the digital area of the company.
“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 said in a statement provided to Deadline. “As this process is ongoing, we are unable to provide further details at this time.”
In the coming months, CNBC and all other cable networks apart from Bravo that are currently owned by NBCUniversal are being spun off by NBCU parent into a new stand-alone company called Versant. The streamlining at CNBC is not directly related to the spin, insiders said, as Versant is looking to staff up and file some 750 positions across its networks as it finalizes its separation from NBCU.
Deep Bagchee became president of CNBC International in 2024., moving over from ITV. Bagchee replaces John Casey, who Deadline revealed was stepping down in late-2023 after almost 30 years with the news network.
Bagchee has overseen the network’s editorial output outside of the U.S. As Chief Product Officer of ITV., he helped spearhead the launch of free streaming service ITVX.