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Termination notices went out to 150 NBC News Group employees Wednesday as the financial health of the traditional television business continues to erode.

The cuts have been anticipated for months as NBC is seeing declines in TV ratings and ad revenue that are not being fully offset by a growing digital business.

Audience migration to streaming platforms has put pressure on legacy outlets across the media industry, leading to layoffs and cost-cutting.

A representative for the NBC News Group, which produces “Today,” “NBC Nightly News with Tom Llamas” and “Dateline,” declined to comment on the layoffs.

The cuts are also attributed to the spinoff of cable networks MSNBC and CNBC, according to a person briefed on the plans who was not authorized to comment. As of last week, NBC News no longer shares resources with the two outlets, which will become part of a new company called Versant. Some NBC News veterans have decided to join MSNBC, which will be renamed MS NOW.

Versant is the new stand-alone home for most of Comcast’s cable networks, including USA Network, the Golf Channel, CNBC and MSNBC. Comcast is spinning off the channels because it believes the mature outlets face a bleak future due to pay TV cord-cutting and are an albatross weighing down its stock price.

Some of the job losses are expected to be mitigated by a reallocation of resources aimed at bolstering the division’s digital operations. The employees affected by the cuts have been encouraged to apply for 140 jobs currently open across the NBC News Group.

The cuts amount to 2% of the NBC News Group, which also includes local TV stations owned by NBC and Telemundo.

A recent memo from NBC News Group Chair Cesar Conde said the division is launching a subscription streaming service later this year, although details have not been made public. The company already has NBC News Now, a free ad-supported streaming channel.

More cuts across the TV news business are expected through the end of the year. A significant reduction in staffing is expected at CBS News following the merger of parent Paramount with Skydance Media.

ABC News was hit hard by a 6% staff reduction across the ABC TV network enacted in March by parent Walt Disney Co. Those cuts followed a layoff of 40 news staffers in October 2024.

Walt Disney Co. launched another deep round of layoffs on Monday, notifying several hundred Disney employees in the U.S. and abroad that their jobs were being eliminated amid an increasingly difficult economic environment for traditional television.

People close to the Burbank entertainment giant confirmed the cuts, which are hitting film and television marketing teams, television publicity, casting and development as well as corporate financial operations.

The move comes just three months after the company cut 200 workers, including at ABC News in New York and Disney-owned entertainment networks. At the time, the division said it was cutting its staff by 6% amid shrinking TV ratings and revenue for traditional television.

Disney declined to specify how many workers were losing their jobs. The cutbacks come after Disney Chief Executive Bob Iger acknowledged to Wall Street that Disney had been pumping out too many shows and movies to compete against Netflix. The programming build-up accelerated as the company prepared to launch Disney+ in late 2019, and it bulked up its staff to handle the more robust pipeline.

But the company since has retrenched, recognizing the need to focus on creating high-quality originals that meet Disney’s once lofty standards.

ABC News shed about 40 employees last October. The company’s TV stations also lost staff members.

The ABC television network and Disney-owned entertainment channels have seen dramatic audience defections as consumers switch to streaming services, including Netflix, Paramount+ and Disney+.

Hollywood trade site Deadline first reported the news.