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CNBC delivers bad news for website staff

US financial news channel CNBC is to cut its cable and website staff by 40 and reorganise its internet operations.

By Ron Coates

Published: 16 February 2001 09:25 GMT

The Dow Jones and NBC joint venture last month announced plans to axe 10 per cent of its 6,000 staff, with the website taking the brunt of the cuts at 26 per cent. CNBC.com will now restrict its coverage to reporting the stock markets and exchanges.

Rival cable news channel CNN, the AOL Time Warner subsidiary, last month axed 10 per cent of its jobs - around 400 people.

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