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NEW YORK NBC Universal today said it would cut administrative and operating expenses by $750 million and eliminate 700 jobs (5 percent of its workforce) by the end of 2008.
“This initiative is designed to help us exploit technology and focus our resources as we continue our transformation into a digital media company for the 21st century,” said Bob Wright, NBCU chairman and CEO.
NBCU said it would save money via resource sharing among its newsgathering units.
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