Comcast plans significant job cuts as it restructures cable-TV, broadband and wireless businesses ahead of the NBCUniversal spin-off and intensifying competition.
Comcast plans significant job cuts as it restructures cable-TV, broadband and wireless businesses ahead of the NBCUniversal spin-off and intensifying competition.
FILE PHOTO: Comcast is planning significant job cuts as it restructures its cable-TV, broadband and wireless businesses ahead of the NBCUniversal spin-off. | Photo Credit: Dado Ruvic/Reuters
Comcast Corp. is planning a significant number of job cuts as part of an overall restructuring of its cable-TV, broadband and wireless businesses, according to people familiar with the company’s thinking.
The reorganization is designed to put Comcast in a stronger position to operate as an independent company after it spins off the NBCUniversal businesses next year, said the people, who asked to not be identified because the plans haven’t been made public. The cuts, which could start to be announced in a matter of weeks, are aimed at creating a more nimble workforce and freeing up cash to invest in more growth opportunities, among other long-term goals.
Comcast has been promoting broadband by offering five-year price guarantees and a free wireless line for one year. The company is due to report earnings on Thursday.
Portfolio changes and management reshuffle
Comcast has adjusted its portfolio to boost its stock price, which was down about 21% this year. Cable-TV networks like CNBC and MS Now were spun off as Versant Media Group in January.
Michael Angelakis, a former chief financial officer, is returning to lead Comcast after the NBC separation.
The company had 179,000 full and part-time employees as of Dec. 31, 2025.
More stories like this are available on bloomberg.com
Averytin News Financial update.