Comcast to cut jobs as broadband losses rise

Comcast is preparing a significant restructuring of its cable television, broadband and wireless businesses that includes major job cuts, as the company confronts mounting subscriber losses. The reductions are expected to affect a substantial number of roles across its connectivity operations and could be announced within weeks.

The restructuring comes as Comcast lost 144,000 broadband customers in the third quarter, a deeper decline than analysts had forecast and a larger drop than in the year-ago period. The company cited aggressive price competition from large telecom rivals such as AT&T (T), as well as smaller fiber providers, which are offering discounted internet packages that make it harder for Comcast to retain subscribers without heavy promotional offers.

Comcast’s connectivity segment, which includes broadband services, reported a 4.4% decline in revenue to $2.60 billion in the third quarter, falling short of analyst expectations. Fierce competition in both fiber and fixed wireless access from providers including AT&T, T-Mobile US and Verizon Communications has given households more alternatives to traditional cable internet. These rivals have pushed attractively priced plans that erode Comcast’s core broadband business.

To counter the pressure, Comcast has been marketing broadband offers built around five-year price guarantees and a complimentary wireless line for one year. The company is also restructuring its connectivity operations specifically, with plans for a significant round of layoffs aimed at adapting to the current pricing environment and improving the unit’s efficiency. Despite these challenges, Comcast reported adjusted profit of $1.07 per share in the quarter, above the market estimate of 98 cents per share.

The planned reorganisation is closely tied to Comcast’s strategy to separate its NBCUniversal media assets and operate as a more focused connectivity company. NBCUniversal, which includes film and television studios, theme parks and the Peacock streaming platform, is slated for a spinoff that is targeted for completion by mid-2027. The current restructuring is intended to leave Comcast’s remaining cable, broadband and wireless operations more agile and better positioned as a stand-alone entity after that separation.

Comcast employed approximately 179,000 full- and part-time workers as of Dec. 31, 2025, underscoring the potential scale of the coming workforce changes, though the specific number of roles to be cut has not been disclosed. The company has already adjusted its portfolio by spinning off cable TV networks such as CNBC and MS Now into Versant Media Group in January, and its stock price was down about 21% in 2026. The latest measures are reportedly part of its transition toward a leaner, connectivity-focused business.

Alongside the operational restructuring, Comcast’s leadership has been reshaped to address subscriber losses and steer the company through the NBCUniversal separation. Co-Chief Executive Officer Brian Roberts has promoted Steve Croney to chief executive officer of the broadband and wireless business and hired Jon Gieselman, a former Apple and DirecTV executive, as chief growth officer. These appointments are aimed at driving customer growth and retention across the connectivity portfolio.

Following the NBCUniversal separation, Michael Angelakis, Comcast’s former chief financial officer, is set to return to lead the company. The organisation is scheduled to report earnings on Oct. 22, providing investors with updated visibility into subscriber trends, the financial impact of its retention promotions, and progress toward the planned restructuring. Together, the workforce cuts, organisational changes and strategic shift away from media are reshaping Comcast’s profile as competition in broadband and video intensifies.