THINK PINK AT NBC

HOLIDAY LAYOFFS BEGIN

By PETER LAURIA

NBC Universal yesterday initiated the layoffs CEO Jeff Zucker warned of in October, spreading the pink slips across all of its units so that none of them lost more than 100 employees.

Sources familiar with the situation said Universal Pictures is expected to lose about 70 people, while NBC's 10 owned and operated television stations would shed between 40 and 50 employees.

The Post reported yesterday that CNBC was on the hook for 80 job losses, but sources inside the network say that number was closer to 55 after the head of the network pleaded his case directly to Zucker. (More on the CNBC cuts in Media Ink, p. 50.)

The newly acquired Weather Channel, which NBC bought in July for $3.5 billion, is also expected to lose some positions, though a precise number couldn't be learned.

The Peacock network's news division is likely to be the hardest-hit because it is the company's largest unit.

In addition to layoffs at its Los Angeles and Dallas bureaus, sources said the "Today" show, as well as "Nightly News" and "Dateline," would all be losing staffers.

Some of those departures are the result of voluntary buyouts or retirements, one source noted.

In the past, MSNBC has shouldered most of the news division layoffs, but this time around isn't expected to be as bad for the network, if only because it has been "cut to the bone already," said one insider.

News division staffers have always been particularly sensitive about job cuts mandated by corporate - almost to the point of feeling singled out - since Zucker is an old news guy.

"It's really sad to see Jeff turning his back on news since he owes his career to it," said one source close to the news division.

In total, 500 people, or about 3 percent of the company's workforce of 15,000, are being let go.

The move is expected to save NBCU $500 million, or about 3 percent of its operating budget for 2009.

Other initiatives are also underway to cut costs, including cutbacks in travel, entertainment and promotion budgets.

The layoffs at NBCU come as parent company General Electric grapples with an economic environment that has wreaked havoc with its GE Capital unit, which is one of its biggest.

Still, GE reaffirmed that it will keep its dividend, which runs at about 8 percent per year.