Cable giant Comcast is preparing for a major wave of layoffs ahead of the spin-off of NBCUniversal planned for 2027.
\n\nCFO Jason Armstrong told investors on the third-quarter 2026 earning call that Comcast is preparing to conduct a serious restructuring campaign of $1 billion in the coming fourth quarter, Variety reported.
\n\n“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,” Armstrong said o the call as Comcast prepares spin off NBCUniversal “in a tax-free transaction,” Variety wrote.
\n\nThe full extent of the job loss among the company’s 179,000 employees is not yet clear and the company’s various departments are just beginning to make assessments on where cuts might be effective, the paper added.
\n\nArmstrong went on to say that the restructuring “is to get ahead of cost actions that will facilitate sort of a fast start into 2027” to keep the company “competitive.”
\n\n“We don’t look at it as a cost-cutting exercise. This is the ability to simplify in order to move faster, to be more nimble in decision-making, and I think really create capacity, you know, to invest for growth,” he said.
Original source: https://breitbart.com/
Leave a Reply