Last month, Rich told you all about NBC Universal's plans to cut costs by cutting jobs. Seven hundred jobs to be exact. The first wave of cuts came last week, where at least 17 people were laid off from Dateline NBC. Most of those jobs were based out of New York, with a handful in Washington, D.C. and Chicago. There is also an undisclosed number of people who volunteered for the company's buyout package.

More layoffs within NBC News will come this week, with even more coming in the next year. According to Broadcasting & Cable, NBC Universal is slashing costs mostly at the NBC television network, while its movie and cable networks remain untouched. That means the news division is going to take the biggest hit because it takes a lot of people to cover the news. I guess we know where NBCU's priorities are. If it's anything like the newsrooms I've worked in, the most expensive employees will be told to take a hike and they will be replaced by cheaper people with less experience. Does the quality of the product take a hit? You betcha.

[Via Lost Remote]