Comcast Eying Massive Job Cuts as Cable Revenue Declines

Comcast is preparing for a major round of layoffs as the cable and entertainment giant moves toward a planned 2027 spin-off of NBCUniversal and Sky operations. The company expects to record more than $1 billion in restructuring charges during the fourth quarter of 2026. Chief Financial Officer Jason Armstrong disclosed the plans during Comcast’s third-quarter earnings call, according to Variety. The restructuring is expected to affect the company’s workforce, although the number of jobs that could be eliminated remains unknown. “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 told investors. Comcast employs approximately 179,000 people, and its various departments are reportedly beginning to evaluate where staffing and operational changes could be made. The company has not announced a specific layoff target. Armstrong said the restructuring “is to get ahead of cost actions that will facilitate sort of a fast start into 2027” and help Comcast remain competitive as it prepares to separate its businesses through a tax-free transaction. Despite the expected job losses, Ar...