- Comcast is planning a significant number of job cuts as part of a restructuring of its cable-TV, broadband and wireless businesses, according to people familiar with the company’s thinking. The cuts could start to be announced in a matter of weeks.
- The company had 179,000 full and part-time employees as of December 31, 2025. The reorganization aims to create a more nimble workforce and free up cash to invest in more growth opportunities, among other long-term goals.
- Comcast has been losing cable-TV subscribers to streaming and, more recently, internet customers to AT&T, T-Mobile and Verizon, which are pushing attractively priced fiber or fixed wireless connections. It has responded with five-year price guarantees and a free wireless line for one year.
- The restructuring is designed to put Comcast in a stronger position to operate as an independent company after it spins off the NBCUniversal businesses next year. The stock is down about 21% this year, and the company reports earnings on Thursday.
What Happened?
Bloomberg reported that Comcast is preparing job cuts across its connectivity businesses, citing people who asked not to be identified because the plans haven’t been made public. The Philadelphia-based company already spun off cable networks including CNBC and MS Now as Versant Media Group in January. Co-CEO Brian Roberts has promoted Steve Croney to CEO of the broadband and wireless business and hired Jon Gieselman, a former Apple and DirecTV executive, as chief growth officer. Former CFO Michael Angelakis is returning to lead Comcast after the NBC separation.
Why It Matters?
Losing internet customers to fiber and fixed wireless rivals adds a second source of pressure on top of years of cord-cutting in cable TV. Cutting costs is one of the few levers management controls directly while it fights those losses with price guarantees and a free wireless line. The timing ties the cuts to the NBCUniversal spinoff, after which the remaining company will rely on its cable, broadband and wireless businesses. For shareholders, the restructuring is the latest in a series of portfolio moves aimed at a stock that is down about 21% this year.
What’s Next?
Thursday’s earnings report is the first chance for management to address the restructuring and the customer losses. The cuts could start to be announced within weeks, and their scale will show how much cash Comcast aims to free up for growth. Investors will also watch whether price guarantees and free wireless lines slow the loss of broadband customers to AT&T, T-Mobile and Verizon. The NBCUniversal spinoff next year, with Angelakis returning to lead Comcast afterward, sets the timeline for the new structure.
Affected Tickers and Coins: CMCSA, T, TMUS, VZ
Source: Bloomberg
