Comcast is planning significant job cuts across its cable television, broadband and wireless operations as the US media and telecommunications group restructures ahead of the planned spin-off of NBCUniversal and Sky.
The Philadelphia-based company has not disclosed how many roles could be affected. The reductions are expected to focus on the connectivity business that will remain with Comcast after the media operations are separated.
Comcast chief financial officer Jason Armstrong told analysts during the company’s third-quarter earnings call that it expected to record a restructuring charge of more than $1 billion in the final three months of 2026.
“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,” Mr Armstrong said.
The charge is expected to cover a range of restructuring measures, including costs associated with the workforce changes. Reports of the planned Comcast layoffs emerged as the company faces mounting pressure in its traditional cable and broadband operations.
Comcast said it lost 144,000 domestic broadband customers in the third quarter, more than analysts had anticipated. Competition from wireless providers and fibre broadband companies has made it harder for the group to retain customers without offering more aggressive discounts.
Comcast restructuring ahead of NBCUniversal spin-off
In June, Comcast announced plans to separate into two publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. The transaction, which is expected to be completed in 2027, is intended to leave Comcast focused on broadband, wireless and related technology services.
NBCUniversal will retain the group’s media and entertainment interests, including NBC, Telemundo, Bravo, Peacock, Universal Pictures and its theme parks. Comcast’s third-quarter results showed stronger performance from those businesses, including growth at Peacock and Universal’s film operation.
The company’s chief executives said Comcast was taking steps to improve efficiency and strengthen its remaining businesses. However, the scale and timing of the job cuts have not yet been confirmed.
