Comcast planning major layoffs as part of its restructuring: Report
In this photo illustration, the Comcast logo is displayed on a smartphone screen, with the company's rainbow-colored NBC peacock branding visible in the background, on April 20, 2025. (Photo by Cheng Xin/Getty Images)
As part of the restructuring of its cable-TV, broadband and wireless businesses, Comcast Corp. is planning to cut a significant number of jobs, according to reports.
Dig deeper:
According to Bloomberg, the Philadelphia-based media and telecom company will cut job cuts as it restructures and spins-off NBC Universal next year.
While speaking during the company’s third-quarter earnings call, CFO Jason Armstrong said Comcast expects to take a restructuring charge of more than $1 billion in the fourth quarter.
What they're saying:
"We expect to have a significant charge in the fourth quarter related mostly to our transformation efforts, and I would quantify that at over $1 billion," he told analysts.
Variety reports the extent of the layoffs has not been determined but is expected to impact the company's cable operations.
What's next:
In June, Comcast announced that it will spin off NBC Universal which includes NBC, Telemundo, Bravo, Peacock, Universal Pictures, and its theme parks — Universal Orlando Resort, Universal Studios Hollywood, Universal Kids Resort in Frisco, Texas, and parks in Japan, China and Singapore. Construction is underway for its first theme park in Europe. Universal United Kingdom Resort in Bedfordshire, England is expected to open in 2031.
The Source: This article includes information from Bloomberg, Variety, and Universal Corporate Communications. This story was reported from Orlando.